Florida GDP now bigger than Australia, Mexico

Florida’s $1.8 trillion economy is now the 14th biggest in the world, according to the Florida Chamber Foundation, surpassing Australia and Mexico in GDP. 

According to a report released by the chamber Tuesday, the state is on track to become one of the top 10 largest economies on the planet by 2030. Florida’s economy grew by 6.3% over the past year, positioning the state to continue climbing global rankings, according to a release. 

At its current pace, Florida’s economy needs to grow by approximately 2% to surpass South Korea and become the world’s No, 13 economy. Reaching the top 10 will require approximately 21% more growth, with Canada currently boasting the 10th largest economy. 

"Florida's rise to the world's 14th largest economy is part of our Florida 2030 Blueprint plan and further proof that free enterprise works," says Mark Wilson, president & CEO of the Florida Chamber of Commerce and Florida Chamber Foundation, in a release. "Florida continues creating jobs, attracting investment, welcoming new businesses and giving families greater opportunity to succeed.”

According to the Florida Chamber Foundation, the state leads the nation in the following key economic indicators: 

The Florida Chamber Foundation launched the Florida 2030 Blueprint in 2018 — a comprehensive, 10-year strategic plan designed to prepare the state for an additional 6 million residents and transform Florida into a top 10 global economy by 2030. Since launching the project, the chamber says Florida now has 155,742 fewer children living in poverty. 

Founded in 1968, the Florida Chamber Foundation is a nonprofit, business-led research organization and think tank affiliated with the Florida Chamber of Commerce. Dedicated to Florida’s long-term economic prosperity, it focuses on data-driven public policy research, economic forecasting and community development rather than lobbying.