As of 2022, the New York metropolitan area is estimated to produce a gross metropolitan product (GMP) of over $2.1 trillion, ranking it first worldwide. If the New York metropolitan area were a sovereign state, it would have the eighth-largest economy in the world. As of 2022, New York is home to the highest number of billionaires and millionaires of any city and, in 2017, was the wealthiest city in the world.