Florida - Economy

Economy

Historically, the economy of Florida was dependent on agricultural products such as citrus, sugar, cotton and cattle. In the twentieth century, tourism, industry, construction, international banking, biomedical and life sciences, healthcare research, simulation training, aerospace and defense, and commercial space travel have contributed to the state's economic development.

The Gross Domestic Product (GDP) of Florida in 2010 was $748 billion. Its GDP is the fourth largest economy in the United States. In 2010, it became the fourth largest exporter of trade goods. The major contributors to the state's gross output in 2007 were general services, financial services, trade, transportation and public utilities, manufacturing and construction respectively. In 2010–11, the state budget was $70.5 billion, having reached a high of $73.8 billion in 2006–07. Chief Executive Magazine name Florida the third "Best State for Business" in 2011.

The economy is driven almost entirely by its nineteen metropolitan areas. In 2004, they had a combined total of 95.7% of the state's domestic product.

Read more about this topic:  Florida

Other articles related to "economy":

Iran–Iraq War - Home Front - Iran - Economy
... The war furthered the decline of the Iranian economy that had begun with the revolution in 1978–79 ...
Scotland - Economy and Infrastructure
... Scotland has a western style open mixed economy that is closely linked with the rest of Europe and the wider world ... Traditionally, the Scottish economy has been dominated by heavy industry underpinned by the shipbuilding in Glasgow, coal mining and steel industries ... a manufacturing focus towards a more service-oriented economy ...
Katanga Province - Economy
... Copper mining is an important part of the economy of Katanga province ... Cobalt mining by individual contractors is also prevalent ...
Quincy, Massachusetts - Economy
... to several large employers in the financial services, insurance and health care sectors of the economy ...
Great Depression - Causes - Demand-driven - Keynesian
... General Theory of Employment Interest and Money that lower aggregate expenditures in the economy contributed to a massive decline in income and to employment that was well below the average ... In such a situation, the economy reached equilibrium at low levels of economic activity and high unemployment ... people fully employed, governments have to run deficits when the economy is slowing, as the private sector would not invest enough to keep production at the ...

Famous quotes containing the word economy:

    Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.
    Jane Jacobs (b. 1916)

    Everyone is always in favour of general economy and particular expenditure.
    Anthony, Sir Eden (1897–1977)

    The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.
    Henry David Thoreau (1817–1862)