Who Has The Bigger Economy, Russia Or Texas?
Texas has long been known as an economic powerhouse among states, but High Plains residents may not be aware of just how powerful the Lone Star State is on the world stage.
According to a new editorial in Forbes, the economy of Texas dwarfs that of Russia, which is by far the largest country in the world by area.
While the population of Russia is almost five times that of Texas, Texas outpaces Russia when it comes to GDP. Russia’s gross domestic product amounts to about 1.3 trillion, while the Lone Star State’s comes to about 1.7 trillion.
That means Texas crushes Russia when it comes to per capita GDP. The per person GDP for a Russian is around $9,000, while in Texas the GDP averages out to almost $59,000 per person. What’s more, while the Russian economy almost exclusively revolves around crude oil production, Texas has been diversifying its economy for decades. The second-largest state now leads the nation in wind energy, and is “a leading hub for advanced technology and manufacturing, aeronautics, biotechnology and life sciences.”
Something to think about, given the outsized effect Russia has been playing in American politics lately.