section_path: Economy
section_name: Economy
paragraph_text: Economy
  
  The Los Angeles metropolitan area has the third-largest metropolitan economy in the world, behind the Greater Tokyo Area and the New York metropolitan area. In 2022, the combined statistical area of Greater Los Angeles (which includes the Los Angeles metropolitan area, the Inland Empire, and Ventura County) had a $1.528 trillion economy.
  
  Los Angeles and Orange Counties together have an economy of roughly $1.227 trillion. Important are coastal California land values and the rents they command, which contribute heavily to GDP earnings, though there are worries that these high land values contribute to the long-term problem of housing affordability and are thus a possible risk to future GDP increase. This is evident when comparing the coast with the Inland Empire, a large component of the five-county combined statistical area (CSA) that nevertheless contributes a far smaller portion to regional gross metropolitan product but still dominates in industry. The Greater Los Angeles CSA is the third-largest economic center in the world, after Greater Tokyo and the New York-Newark-Bridgeport CSA.
  
  Greater Los Angeles is a hotspot for Asian car manufacturers. Specifically, Mitsubishi, Hyundai, Honda, and Mazda have their U.S. headquarters in the area. Nissan and Toyota were headquartered in the area in the recent past as well. (Nissan moved to Tennessee; Toyota moved to Texas.)
  
  The economy of the Los Angeles metropolitan area is famously and heavily based on the entertainment industry, with a particular focus on television, motion pictures, interactive games, and recorded music – the Hollywood district of Los Angeles and its surrounding areas are known as the "movie capital of the United States" due to the region's extreme commercial and historical importance to the American motion picture industry. Other significant sectors include shipping/international trade – particularly at the adjacent Port of Los Angeles and Port of Long Beach, together comprising the United States' busiest seaport – logistics – the Inland Empire being the largest concentration of warehousing and intermodal facilities in the world – as well as aerospace, technology, petroleum, fashion and apparel, and tourism.
  
  The City of Los Angeles was previously home to five Fortune 500 companies: energy company Occidental Petroleum (until 2014 when it moved its headquarters to Houston), healthcare provider Health Net, metals distributor Reliance Steel & Aluminum, engineering firm AECOM, and real estate group CB Richard Ellis. As of 2024, all of these companies have moved elsewhere. Other companies headquartered in Los Angeles include American Apparel, City National Bank, 20th Century Studios, Latham & Watkins, Univision, Metro Interactive, LLC, Premier America, Gibson, Dunn & Crutcher, DeviantArt, Guess?, O'Melveny & Myers; Paul, Hastings, Janofsky & Walker, Tokyopop, The Jim Henson Company, Paramount Pictures, Sunkist Growers, Incorporated, Tutor Perini, Fox Sports Net, Capital Group, and The Coffee Bean & Tea Leaf. Korean Air 's US passenger and cargo operations headquarters are in two separate offices in Los Angeles. Entertainment and media giant The Walt Disney Company is headquartered in nearby Burbank.
  
  The Port of Los Angeles and Port of Long Beach together comprise the fifth-busiest port in the world, being the center of imports and exports for trade on the west Pacific Coast as well as being one of the most significant ports of the western hemisphere. The Port of Los Angeles occupies 7,500 acres (3,035 hectares) of land and water along 43 miles (69 kilometres) of waterfront and is the busiest container port in the United States. The Port is the busiest port in the United States by container volume, the 8th busiest container port in the world. The top trading partners in 2004 were: China ($68.8 billion), Japan ($24.1 billion), Taiwan ($10.8 billion), Thailand ($6.7 billion), & South Korea ($5.6 billion)
  
  The Port of Long Beach is the second-busiest container port in the United States. It adjoins the separate Port of Los Angeles. Acting as a major gateway for U.S.-Asian trade, the port occupies 3,200 acres (1,295 hectares) of land with 25 miles (40 kilometres) of waterfront in the city of Long Beach, California. The seaport has approximately $100 billion in trade and provides more than 316,000 jobs in Southern California. The Port of Long Beach imports and exports more than $100 billion worth of goods every year. The seaport provides the country with jobs, generates tax revenue, and supports retail and manufacturing businesses.