New York's gross state product in 2007 was $1.1 trillion, ranking third in size behind the larger states of California and Texas the other two states of USA. Its 2007 per capita personal income was $46,364, placing it sixth in the nation behind Maryland and eighth in the world behind Ireland. New York is the heart of USA and also known for various trends. If New York were an independent nation it would rank as the 16th largest economy in the world. A lot of economy of USA is based on this state. It is the biggest state of USA too.

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Many of these industries are concentrated in upstate regions. The state also has a large manufacturing sector that includes printing and the production of garments, furs, railroad equipment and bus line vehicles. The state is the largest producer of cabbage in the U.S. New York City is the center of banking, finance and communication in the United States and is the location of the New York Stock Exchange, the largest stock exchange in the world by dollar volume. Albany and the Hudson Valley are major centers of nanotechnology and microchip manufacturing, while the Rochester area is important in photographic equipment and imaging.
New York is a major agricultural producer, ranking among the top five states for agricultural products such as dairy, apples, cherries, cabbage, potatoes, onions, maple syrup and many others. Many of the world's largest corporations are based in the city. The state has about a quarter of its land in farms and produced US$3.4 billion in agricultural products in 2001. The south shore of Lake Ontario provides the right mix of soils and microclimate for many apple, cherry, plum, pear and peach orchards. Apples are also grown in the Hudson Valley and near Lake Champlain. New York is the nation's third-largest grape-producing state, behind California and second-largest wine producer by volume.

Along with that, the new laws established a gun offender registry, which required city gun dealers to inspect their inventories and file reports to the police twice a year. In 2005 the city achieved the lowest crime rate since the 19th century and in 2006 a new law related to guns was passed by the legislature, which was to control the amount of people who were entitled or allowed to possess a gun. In 2007 the number of homicides was just 494 but in 2008 the number of homicides increased to 523. In 2009 there was a decrease again to only 466 homicides. The lowest crime rate in the history of New York, however in 2010 there has been rise in the number of crimes again. In 2007 a plan for extensive roadblocks and installation of web of camera were laid to keep a tab on the terrorist and the criminals in the city.

Same is the case with New York City too. The graphs show that, the number of murders that took place in the city in 2007 was way less than the one that took place in previous history of the city. During 1980s and the early 1990s the crime rate was sky high due to crack epidemic, a large number of gangs and illegal firearms which nearly everyone had. The reasons assumed for decrease in crime rate are the end of crack epidemic and various demographic changes that took place. The proof for this is the crime rate graphs drawn for different years. No country or city is free of criminal, thus crime is present everywhere, the only difference is the extent of the crime rates. Crime prevails here too however, the number of violent crimes over the last fifteen years has decreased. The crime rate after early 1990 dropped quickly, even though after this the crime rate increased in the following history, however, it never went to that peak again.

A recent review by the Center on Budget and Policy Priorities found 13 states, including several of the nation's largest, face budget shortfalls for Financial Year 2009. New York faces a deficit that could be as large as $4.3 billion. New York's largest imports are oil, gold, aluminum, natural gas, electricity, rough diamonds, and lumber. New York exports a wide variety of goods such as foodstuffs, commodities, minerals, computers and electronics, cut diamonds, and automobile parts. 21% of the state's total worldwide exports went to Canada in 2007. Tourism from the north is also a large part of the economy. In 2007, the state exported a total of $71.1 billion worth of goods, with the five largest foreign export markets being Canada ($15 billion), United Kingdom ($6 billion), Switzerland ($5.9 billion), Israel ($4.9 billion), and Hong Kong ($3.4 billion). New York's agricultural outputs are dairy products, cattle, other livestock, vegetables, nursery stock, and apples. Its industrial outputs are printing and publishing, scientific instruments, electric equipment, machinery, chemical products, and tourism. Canada is a very important economic partner for the state. Canadians spent US$487 million in 2004 while visiting the state.

The biggest gangs like forty thieves and JetBlack the Roach Guard began in 1820s. Thus a new police force was started in 1844 to deal with the situation. Riots broke out in the city in 1863, 1870, and 1874, but they were all suppressed by the new police force. The murder of Helen and Mary in 1836 and 1841 was given vast coverage by the newspaper, uncovering the corruption and the crime. However, to tell the people about these crimes and the corruption of old law enforcers the New York Herald was started by, James Gordon.