Downtown Los Angeles slyline looking northeast. Los Angeles Almanac Photo.
Also see: Los Angeles County Population vs. State Populations
"Gross domestic product" or GDP is the total market value of all final goods and services produced within specified geographical boundaries or borders in a specific period. With an economic GDP of more than $1 trillion in 2024, Los Angeles County contributes close to a quarter of California's GDP and almost 4% of the nation's GDP. It ranked second among all U.S. counties for GDP in 2024 (first in 2023). In real 2024 GDP dollars (measured consistently from 2017 dollars) Los Angeles County alone has a larger economic output than all but five U.S. states (California, Texas, New York, Florida, Illinois). If Los Angeles County were an independent nation by itself, among 218 reporting national economies, it would rank as the world's 20th largest economy. It had a larger GDP than either Switzerland, Poland, Taiwan, Belgium, Ireland, Sweden, U.A.E, Singapore, Israel, Thailand, Austria or most other countries.
The state of California now ranks (per 2024 figures) as the fourth largest economy in the world. It ranks only behind the U.S. overall, China, and Germany, and India.
| Year | Current-Dollar GDP (in thousands of at-the-time dollars)* | Real GDP (in thousands of chained-2017 dollars)* | Percent of Real California GDP | Percent of Real United States GDP |
|---|---|---|---|---|
| 2024 | $1,002,965,029 | $810,842,127 | 24.5% | 3.5% |
| 2023 | $956,211,290 | $794,412,003 | 24.8% | 3.5% |
| 2022 | $909,321,173 | $785,175,539 | 24.9% | 3.6% |
| 2021 | $840,970,679 | $773,279,179 | 24.5% | 3.6% |
| 2020 | $765,988,904 | $728,586,287 | 24.9% | 3.6% |
| Year | Current-Dollar GDP (in thousands of at-the-time dollars)* | Real GDP (in thousands of chained-2017 dollars)* | Percent of Real California GDP | Percent of Real United States GDP |
| 2019 | $796,023,430 | $767,859,358 | 25.9% | 3.7% |
| 2018 | $755,372,387 | $740,088,358 | 26.0% | 3.7% |
| 2017 | $720,841,757 | $720,841,757 | 26.3% | 3.7% |
| 2016 | $687,790,470 | $696,714,382 | 26.6% | 3.6% |
| 2015 | $667,257,201 | $684,359,234 | 26.9% | 3.6% |
| Year | Current-Dollar GDP (in thousands of at-the-time dollars)* | Real GDP (in thousands of chained-2017 dollars)* | Percent of Real California GDP | Percent of Real United States GDP |
| 2014 | $628,546,369 | $655,256,913 | 27.0% | 3.6% |
| 2013 | $600,243,761 | $635,468,664 | 27.2% | 3.6% |
| 2012 | $576,831,706 | $619,478,724 | 27.5% | 3.6% |
| 2011 | $557,551,527 | $611,166,037 | 27.9% | 3.6% |
| 2010 | $537,427,551 | $598,544,075 | 27.8% | 3.6% |
| Year | Current-Dollar GDP (in thousands of at-the-time dollars)* | Real GDP (in thousands of chained-2017 dollars)* | Percent of Real California GDP | Percent of Real United States GDP |
| 2009 | $518,967,088 | $583,207,839 | 27.6% | 3.6% |
| 2008 | $539,074,844 | $610,075,114 | 27.8% | 3.6% |
| 2007 | $518,786,826 | $594,511,390 | 27.4% | 3.5% | 2006 | $497,988,979 | $583,748,936 | 27.5% | 3.6% |
| 2005 | $467,179,943 | $561,223,732 | 27.5% | 3.5% |
| Year | Current-Dollar GDP (in thousands of at-the-time dollars)* | Real GDP (in thousands of chained-2017 dollars)* | Percent of Real California GDP | Percent of Real United States GDP |
| 2004 | $444,475,896 | $547,186,213 | 28.0% | 3.5% |
| 2003 | $422,751,231 | $532,771,908 | 28.1% | 3.6% |
| 2002 | $402,912,466 | $515,035,239 | 28.3% | 3.6% |
| 2001 | $388,588,265 | $503,930,481 | 28.2% | 3.5% |
* Current-Dollar GDP represents the GDP value in that particular year's dollar prices.
Real GDP represents inflation-adjusted GDP values over time, based on 2017 dollar values.
Source: Bureau of Economic Analysis, U.S. Department of Commerce.
