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California Business and Economy

California has the eighth-largest economy in the world. The gross state product (GSP) in 2008 was about $1.85 trillion.




GDP$38,956 (2007)
Unemployment rate12.5 % (2010)
Major industriesTourism, fishing, services, manufacturing, wine industry, computers, film
Major sectorsAgriculture, trade, mining, livestock, transportation, forestry, education, health

The service industries of California generate the highest portion of the state's gross state product. Real estate, finance and insurance are the second-ranking service industries in the state, followed by wholesale and retail trade in food products, motor vehicles and petroleum products.

Agriculture is an important sector, generating $36.2 billion products' revenue of the state. The major agricultural products are: dairy products, greenhouse and nursery products, cotton, oranges, grapes, almonds, lettuce, broccoli, onion, and cattle and calves. California ranks second in the production of livestock products; milk, beef cattle, eggs, sheep, turkeys, hogs and horses are the main livestock products.

Mining is also an important activity. The state is the leading producer of diatomite, sodium compounds, sand and gravel, and also produces gold, gypsum, magnesium compounds, molybdenum, pearlite, potash, and pumice. It mines all of the boron produced in the United States.

Fishing adds to the GDP of the state. Halibut, herring, mackerel, rockfish, sablefish, salmon, shark, tuna, swordfish are the major catches. A significant portion of California's revenue comes from the tourism industry. Disneyland, Sea World, and other theme parks are major attractions.