Even with the recent financial and tax woes roiling California’s marijuana industry, there’s little doubt that it remains the world’s largest cannabis market.
The state will ring up nearly $5.9 billion in legal recreational and medical marijuana sales in 2023, the recently published MJBiz Factbook estimates.
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To put that in perspective, marijuana sales in California could support the economy of a small island nation.
For example, the gross domestic product for the Caribbean island nation of Barbados will total $6.1 billion in 2023, according to the International Monetary Fund (IMF).
The IMF also projects the GDP for the South Pacific island of Fiji and will total about $5.4 billion this year.
The sheer scope of California’s cannabis market is not surprising, given that the state’s GDP for 2022 ($3.6 trillion) would rank fifth worldwide if it were a country, somewhere between Germany ($4.2 trillion) and India
Read full article on Marijuana Business Daily
