Romania's economy, similar in size to America's 30th largest state

A map comparing the economic output in the US in 2012 to foreign countries with comparable GDPs shows that Romania’s GDP was similar to the one reported by the US state Iowa, which is the 30th largest American state by GDP. Romania’s GDP in 2012, of some USD 169.3 billion was slightly higher than the one reported by Iowa in the same year, of some USD 152.4 billion, according to the analysis made by Mark J. Perry, a full professor of economics at the Flint campus of The University of Michigan, posted on aei-ideas.org. America’s largest state economy is California, producing some USD 2 trillion of economic output in 2012, just slightly below Italy’s GDP in the same year. The second largest economy in the US was Texas which had a GDP of around USD 1.4 trillion in 2012, slightly behind the world’s 13th largest country by GDP – Australia – with USD 1.56 trillion of economic output. Saudi Arabia’s GDP in 2012 of USD 711 billion was less than the GDP in Florida, of USD 777 billion, but just slightly more than the GDP in Illinois, of USD 695 billion, reads the study. New York’s GDP of USD 1.205 trillion in 2012 was similar to the one reported by Mexico, of USD 1.18 trillion, while Washington state produces as much economic output as Venezuela. According to the analysis, the US produced 22.3 percent of world GDP in 2012, with only 4.4 percent of the world’s population. Irina Popescu, irina.popescu@romania-insider.com

State | GDP (millions), 2012 | Country | GDP (Millions), 2012 / California | $2,003,479 | Italy | $2,013,392 / Texas | $1,397,369 | Australia | $1,564,419 / New York | $1,205,930 | Mexico | $1,183,655 / Florida | $777,164 | Netherlands | $770,067 / Illinois | $695,238 | Saudi Arabia | $711,050 / Pennsylvania | $600,897 | Switzerland | $631,183 / Ohio | $509,393 | Sweden | $523,804 / New Jersey | $508,003 | Norway | $499,667 / North Carolina | $455,973 | Belgium | $483,402 / Virginia | $445,876 | Argentina | $477,028 / Georgia | $433,569 | Austria | $394,458 / Massachusetts | $403,823 | Thailand | $385,694 / Michigan | $400,504 | South Africa | $383,313 / Washington | $375,730 | Venezuela | $382,424 / Maryland | $317,678 | Colombia | $369,813 / Indiana | $298,625 | Denmark | $314,889 / Minnesota | $294,729 | Malaysia | $304,726 / Tennessee | $277,036 | Singapore | $276,520 / Colorado | $274,048 | Chile | $268,314 / Arizona | $266,891 | Hong Kong | $263,259 / Wisconsin | $261,548 | Nigeria | $262,545 / Missouri | $258,832 | Finland | $247,389 / Louisiana | $243,264 | Israel | $241,069 / Connecticut | $229,317 | Pakistan | $215,117 / Oregon | $198,702 | Ireland | $210,638 / Alabama | $183,547 | Czech Republic | $196,446 / South Carolina | $176,217 | Kuwait | $183,219 / Kentucky | $173,466 | Ukraine | $176,309 / Oklahoma | $160,953 | New Zealand | $171,256 / Iowa | $152,436 | Romania | $169,396 / Kansas | $138,953 | Vietnam | $155,820 / Nevada | $133,584 | Iraq | $149,370 / Utah | $130,486 | Bangladesh | $127,195 / District of Columbia | $109,793 | Hungary | $124,600 / Arkansas | $109,557 | Angola | $116,308 / Mississippi | $101,490 | Morocco | $95,992 / Nebraska | $99,557 | Libya | $95,802 / New Mexico | $80,600 | Ecuador | $87,495 / Hawaii | $72,424 | Oman | $78,111 / West Virginia | $69,380 | Cuba | $71,017 / Delaware | $65,984 | Azerbaijan | $68,727 / New Hampshire | $64,697 | Belarus | $63,259 / Idaho | $58,243 | Croatia | $56,447 / Maine | $53,656 | Luxembourg | $55,143 / Alaska | $51,859 | Bulgaria | $50,972 / Rhode Island | $50,956 | Guatemala | $50,377 / North Dakota | $46,016 | Syria | $46,540 / South Dakota | $42,464 | Lithuania | $42,339 / Montana | $40,422 | Kenya | $40,697 / Wyoming | $38,422 | Serbia | $38,491 / Vermont | $27,296 | Latvia | $28,379