The Florida Chamber Foundation says Florida's $1.8 trillion economy now ranks as the world's 14th largest, surpassing Australia and Mexico in gross domestic product.
Florida's economy has grown to an estimated $1.8 trillion, making it the world's 14th-largest economy, according to the Florida Chamber Foundation. The organization said Florida surpassed Australia and Mexico in gross domestic product and continues progressing toward its goal of becoming one of the world's top 10 economies by 2030 under the Florida 2030 Blueprint.
The foundation reported Florida's economy grew 6.3% over the past year and would need about 2% additional growth to overtake South Korea for the No. 13 spot. Reaching the top 10 would require about 21% more growth, with Canada currently holding 10th place.
The foundation also highlighted several areas where Florida leads the nation, ranking first in new business startups, manufacturing job growth, net income migration, new business migrations, Black-owned businesses and its higher education system. It also cited gains in infrastructure investment, workforce growth and a decline of more than 155,000 children living in poverty since the Florida 2030 Blueprint launched. The foundation said continued labor market expansion and business investment have helped fuel the state's economic growth.
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