What to know about the Economy of New York City.
New York EconomyThe economy of New York is by no doubt thriving. Back in the year 2006, New York's was ranked third in gross state product, which was over one trillion dollars, just behind Texas and California. If the Empire State were its own independent nation it would have the sixteenth largest economy in the world. Recent statistics show that the citizens of New York make an average of forty thousand dollars a year. Agriculturally, New York's strengths and outputs are in dairy products, apples, vegetables, nursery stock, cattle and other livestock. Its large industrial outputs are based on printing and publishing, electric equipment, scientific instruments, chemicals, machinery and, of course, tourism.
New York City, also known as The Big Apple, is New York's leading center of banking, finance, and communications. Not only is NYC the state's leader in these fields, it is also the top leader in the entire United States of America. The New York Stock Exchange (NYSE) is also located in New York City and is the largest exchange of its type in the world. It comes as no surprise that many of the world's largest corporations are based in New York City. New York also has a large manufacturing sector that thrives off printing and publishing, production of garments and furs, bus line vehicles and railroad equipment. Most of these latter industries are located in upstate New York. The city of Hudson Valley and Albany are centers of nanotechnology and microchip manufacturing and all along the Hudson River there are a numerous manufacturing hubs. |