TexasState in United States
2020 Economic Complexity : 0.16, Rank 38 of 52
Dec 2022 Trade Exports | Imports: $37.5B | $29.8B, 1 of 54 | 2 of 54
Dec 2022 Country Destination | Origin: Mexico | Mexico , $10.7B | $11B
Dec 2022 Product Exports | Imports: Petroleum oils, oils from bituminous minerals, crude | Petroleum oils, oils from bituminous minerals, crude , $8.54B | $2.38B
Overview This page contains the latest international trade data for Texas. In December 2022 Texas was the number 1 in total exports and the number 2 in total imports in United States.
Exports In 2022, United States' Texas exported $486B, making it the 1st largest exporter out of the 53 exporters in United States. In 2022 the top exports of Texas were Petroleum oils, oils from bituminous minerals,... ($108B), Light petroleum distillates nes ($42.2B), Petroleum spirit for motor vehicles ($38.6B), Propane, liquefied ($22.1B), and Natural gas, liquefied ($12B).
Imports In 2022, United States' Texas imported $384B, making it the 2nd largest importer out of the 53 importers in United States. In 2022 top imports of Texas were Petroleum oils, oils from bituminous minerals,... ($37.1B), Units of automatic data processing machines:... ($25.5B), Light petroleum distillates nes ($13.9B), Smartphones ($13.1B), and Communication apparatus (excluding telephone sets or... ($11.9B).
Economic Complexity In 2020, the highest complexity exports of Texas according to the product complexity index (PCI) are Nitrile Compounds (1.08), Halogenated Hydrocarbons (0.94), Antiknock (0.63), Acyclic Hydrocarbons (0.48), and Sodium or Potassium Peroxides (0.22). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
December, 2022
Overview In December 2022 Texas exported $37.5B and imported $29.8B, resulting in a positive trade balance of $7.77B. Between December 2021 and December 2022 the exports of Texas have increased by $1.65B (4.59%) from $35.9B to $37.5B, while imports increased by $521M (1.78%) from $29.2B to $29.8B.
Trade In December 2022, the top exports of Texas were Crude Petroleum ($8.54B), Refined Petroleum ($6.32B), Petroleum Gas ($3.3B), Integrated Circuits ($1.46B), and Ethylene Polymers ($965M). In December 2022 the top imports of Texas were Computers ($2.42B), Crude Petroleum ($2.38B), Cars ($1.62B), Telephones ($1.61B), and Refined Petroleum ($1.11B).
Destinations In December 2022, Texas exported mostly to Mexico ($10.7B), Canada ($2.74B), Netherlands ($1.85B), China ($1.64B), and South Korea ($1.61B), and imported mostly from Mexico ($11B), Canada ($2.75B), China ($2.55B), Vietnam ($1.19B), and Germany ($953M).
Growth In December 2022, the increase in Texas's year-by-year exports was explained primarily by an increase in exports to Mexico ($2.09B or 24.5%), Singapore ($911M or 188%), and France ($694M or 260%), and product exports increase in Crude Petroleum ($3.09B or 77.8%), Refined Petroleum ($1.25B or 37.8%), and Petroleum Gas ($1.25B or 43.9%). In December 2022, the increase in Texas's year-by-year imports was explained primarily by an increase in imports from Mexico ($1.88B or 23.1%), Vietnam ($1.03B or 107%), and China ($764M or 29%), and product imports increase in Crude Petroleum ($1.41B or 100%), Telephones ($1.03B or 59.6%), and Computers ($550M or 35.8%).
EXPORT GROWTH (December 2021 - December 2022): $1.65B, (4.59%)
IMPORT GROWTH (December 2021 - December 2022): $521M, (1.78%)
This section shows exports and imports data at subnational level for Texas. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Texas over time.
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Top Destination (2022): Mexico, $144B
Top Product (2022): Petroleum oils, oils from bituminous minerals,..., $108B
In 2022 the top export destinations of Texas were Mexico ($144B), Canada ($38.2B), China ($22B), South Korea ($21.7B), and Netherlands ($19.9B).
In 2022 the top exports of Texas were Petroleum oils, oils from bituminous minerals,... ($108B), Light petroleum distillates nes ($42.2B), Petroleum spirit for motor vehicles ($38.6B), Propane, liquefied ($22.1B), and Natural gas, liquefied ($12B).
Fastest Growing Exports Destination (Dec 2021 - Dec 2022)
Top Origin (2022): Mexico, $141B
Top Import (2022): Petroleum oils, oils from bituminous minerals,..., $37.1B
In 2022 the top import origins of Texas were Mexico ($141B), China ($38.5B), Canada ($32.9B), Vietnam ($20.8B), and Japan ($11.2B).
In 2022 the top imports of Texas were Petroleum oils, oils from bituminous minerals,... ($37.1B), Units of automatic data processing machines:... ($25.5B), Light petroleum distillates nes ($13.9B), Smartphones ($13.1B), and Communication apparatus (excluding telephone sets or... ($11.9B).
Economic Complexity (2022): 0.16
Texas ranks 38th out of the 53 states and territories in United States according to ECI.
The Economic Complexity Index, or ECI, is a measure of an economy’s capacity which can be inferred from data connecting locations to the activities that are present in them. For more info about Economic Complexity, visit the Economic Complexity page.
Estimated using exports data.
The top export opportunities according to the relatedness level, without considering those products were Texas already has a comparative advantage, are led by Aircraft Launch Gear (0.16), Artificial Filament Tow (0.16), Photographic Chemicals (0.16), Halides (0.16), and Developed Exposed Photographic Material (0.15).
The highest complexity exports of Texas according to the product complexity index (PCI) are Nitrile Compounds (1.08), Halogenated Hydrocarbons (0.94), Antiknock (0.63), Acyclic Hydrocarbons (0.48), and Sodium or Potassium Peroxides (0.22). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The most specialized products according to the RCA index are led by Sorghum (22.9), Ethers (12.2), Raw Cotton (10.3), Nitrile Compounds (9.7), and Acyclic Hydrocarbons (9.1).
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since Texas is more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a territory's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions. Bubble size corresponds to exports value by year 2020.
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