Number of the Day: $487 billion

November 7, 2011 | Number of The Day

New Jersey may be facing a difficult economic reality these days, but it still can boast one of the largest Gross State Products in the country. In 2010, the GSP was $487 billion, ranking it seventh of all states in terms of domestic economic output, according to statehealthfacts.org, a project of the Henry J. Kaiser Foundation.

The GSP is the equivalent of the Gross National Product ($14.5 trillion in 2010), although considered less accurate since it is difficult to measure economic flows across state boundaries. Nevertheless, New Jersey’s $487 billion puts it slightly below Pennsylvania’s $569 billion and just ahead of Ohio’s $477 billion. The top three states in terms of GSP are California ($1.9 trillion), Texas ($1.2 trillion), and New York ($1.159 trillion.)