Overview: In January 2021 Texas exported $27.4B and imported $22B, resulting in a positive trade balance of $5.34B. Between January 2020 and January 2021 the exports of Texas have decreased by $-723M (-2.58%) from $28.1B to $27.4B, while imports decreased by $-720M (-3.16%) from $22.7B to $22B.
Trade: In January 2021, the top exports of Texas were Crude Petroleum ($4.06B), Refined Petroleum ($3.39B), Petroleum Gas ($2.86B), Integrated Circuits ($1.44B), and Ethylene Polymers ($828M). In January 2021 the top imports of Texas were Cars ($1.82B), Telephones ($1.72B), Computers ($1.54B), Crude Petroleum ($1.41B), and Refined Petroleum ($656M).
Destinations: In January 2021, Texas exported mostly to Mexico ($8.53B), Canada ($2.07B), China ($1.76B), South Korea ($1.6B), and Japan ($1.31B), and imported mostly from Mexico ($8.16B), China ($2.65B), Japan ($1.67B), Canada ($1.37B), and Vietnam ($975M).
Growth: In January 2021, the decrease in Texas's year-by-year exports was explained primarily by an decrease in exports to Canada ($-604M or -22.6%), Netherlands ($-456M or -44.1%), and Mexico ($-453M or -5.04%), and product exports decrease in Crude Petroleum ($-1.53B or -27.3%), Refined Petroleum ($-668M or -16.5%), and Aircraft Parts ($-410M or -51.6%). In January 2021, the decrease in Texas's year-by-year imports was explained primarily by an decrease in imports from Mexico ($-502M or -5.79%), Saudi Arabia ($-182M or -48.6%), and Colombia ($-131M or -40.3%), and product imports decrease in Crude Petroleum ($-748M or -34.7%), Computers ($-418M or -21.4%), and Gas Turbines ($-169M or -50.2%).