Purchasing power
California's economy ranks among the largest in the world. , the gross state product (GSP) was $3.2trillion ($80,600 per capita), the largest in the United States. California is responsible for one seventh of the nation's gross domestic product (GDP). , California's nominal GDP is larger than all but four countries (the United States, China, Japan, and Germany). In terms of Purchasing power parity (PPP), it is larger than all but eight countries (the United States, China, India, Japan, Germany, Russia, Brazil and Indonesia). California's economy is larger than Africa and Australia and is almost as large as South America.