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Texas would be ranked as the 8th largest economy among nations of the world by nominal GDP, ahead of Canada, South Korea, Russia, and Australia. [10] In 2019, Texas had a median household income of $61,874. [11] As of August 31, 2022 Texas had a total of $64.40 billion in state debt outstanding, including both general obligation and revenue debt.
Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population. [2] Overall, in the calendar year 2024, the United States' Nominal GDP at Current Prices totaled at $29.017 trillion, as compared to $25.744 trillion in 2022.
The gross domestic product of India was estimated at 24.4% of the world's economy in 1500, 22.4% in 1600, 16% in 1820, and 12.1% in 1870. India's share of global GDP declined to less than 2% of global GDP by the time of its independence in 1947, and only rose gradually after the liberalization of its economy beginning in the 1990s.
The state ranks 22nd among U.S. states with a median household income of $64,034, while the poverty rate is 14.2%, making Texas the state with 14th highest poverty rate (compared to 13.15% nationally). Texas's economy is the second-largest of any country subdivision globally, behind California.
These countries/regions could appear in this list as having a small GDP. This would be because the country/region listed has a small population, and therefore small total economy; the GDP is calculated as the population times market value of the goods and services produced per person in the country. [4]
Texas manufacturing output grew in October, but new orders are declining and the outlook is worsening. Meanwhile, retail sales declined. Signs of trouble: New reports show Texas economy is facing ...
The state has yet to return to its pre-pandemic unemployment rate of about 3.5%, even as it leads the country in new jobs created. However, state economic experts say the unemployment rate is an ...
(The Center Square) – Job growth in the Texas oil and natural gas industry continues to remain strong, contributing to Texas again leading the U.S. in job growth last month. In October, the ...