California has the fourth-largest economy in the world, surpassing Japan in the global rankings, according to newly released data from the International Monetary Fund (IMF) and the U.S. Bureau of Economic Analysis (BEA).

Only the United States, China and Germany have larger economies than California when it comes to the global rankings based on gross domestic product numbers.

The state is also outpacing the world's top economies. Last year, California’s growth rate of 6% outpaced the U.S. (5.3%), China (2.6%) and Germany (2.9%).

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California leads the country in agricultural production and has over 36,000 manufacturing firms, among other avenues of business and commerce.

“California isn’t just keeping pace with the world—we’re setting the pace. Our economy is thriving because we invest in people, prioritize sustainability, and believe in the power of innovation," said California Gov. Gavin Newsom in a statement. "California’s economy powers the nation, and it must be protected.”

Last week, the state sued the Trump administration, challenging the president's authority to impose sweeping tariffs that have set off a global trade war.