TexasState in United States
2020 Economic Complexity : 0.34, Rank 22 of 52
May 2021 Trade Exports | Imports: $30.1B | $24.4B, 1 of 54 | 2 of 54
May 2021 Country Destination | Origin: Mexico | Mexico , $10B | $8.57B
May 2021 Product Exports | Imports: Petroleum oils, oils from bituminous minerals, crude | Petroleum oils, oils from bituminous minerals, crude , $4.69B | $1.93B
Overview: This page contains the latest international trade data for Texas, including export and import data.
Exports: In 2020, United States' Texas exported $279B, making it the 1st largest exporter out of the 53 exporters in United States. In 2020 the top exports of Texas were Petroleum oils, oils from bituminous minerals,... ($43.3B), Light petroleum distillates nes ($18.3B), Petroleum spirit for motor vehicles ($17B), Electronic integrated circuits: processors and controllers,... ($10.5B), and Propane, liquefied ($9.37B).
Imports: In 2020, United States' Texas imported $248B, making it the 2nd largest importer out of the 53 importers in United States. In 2020 top imports of Texas were Petroleum oils, oils from bituminous minerals,... ($16.2B), Units of automatic data processing machines:... ($13.8B), Communication apparatus (excluding telephone sets or... ($8.94B), Telephones for cellular networks or for... ($8.74B), and Medium Sized Cars ($8.32B).
Economic Complexity: In 2019, the highest complexity exports of Texas according to the product complexity index (PCI) are Other Esters (1.85), Iron Fasteners (1.81), Oscilloscopes (1.77), Blank Audio Media (1.74), and Metal Pickling Preparations (1.71). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Overview: In May 2021 Texas exported $30.1B and imported $24.4B, resulting in a positive trade balance of $5.74B. Between May 2020 and May 2021 the exports of Texas have increased by $14.3B (90.6%) from $15.8B to $30.1B, while imports increased by $8.54B (53.9%) from $15.8B to $24.4B.
Trade: In May 2021, the top exports of Texas were Crude Petroleum ($4.69B), Refined Petroleum ($4.44B), Petroleum Gas ($2.99B), Integrated Circuits ($1.32B), and Ethylene Polymers ($857M). In May 2021 the top imports of Texas were Crude Petroleum ($1.93B), Cars ($1.78B), Telephones ($1.44B), Computers ($1.42B), and Refined Petroleum ($1.06B).
Destinations: In May 2021, Texas exported mostly to Mexico ($10B), Canada ($2.36B), China ($1.88B), South Korea ($1.52B), and Japan ($1.06B), and imported mostly from Mexico ($8.57B), China ($2.5B), Canada ($1.68B), Japan ($1.67B), and Vietnam ($874M).
Growth: In May 2021, the increase in Texas's year-by-year exports was explained primarily by an increase in exports to Mexico ($5.89B or 142%), Canada ($1.14B or 93.8%), and India ($705M or 265%), and product exports increase in Refined Petroleum ($3.24B or 268%), Crude Petroleum ($2.62B or 127%), and Petroleum Gas ($1.8B or 151%). In May 2021, the increase in Texas's year-by-year imports was explained primarily by an increase in imports from Mexico ($4.04B or 89.1%), Canada ($750M or 80.9%), and Japan ($472M or 39.4%), and product imports increase in Cars ($878M or 97.1%), Crude Petroleum ($870M or 82.4%), and Refined Petroleum ($642M or 155%).
EXPORT GROWTH (May 2020 - May 2021): $14.3B, (90.6%)
IMPORT GROWTH (May 2020 - May 2021): $8.54B, (53.9%)
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 (2020): Mexico, $89B
Top Product (2020): Petroleum oils, oils from bituminous minerals,..., $43.3B
In 2020 the top export destinations of Texas were Mexico ($89B), Canada ($23.2B), China ($17.5B), South Korea ($12.5B), and Brazil ($10.1B).
In 2020 the top exports of Texas were Petroleum oils, oils from bituminous minerals,... ($43.3B), Light petroleum distillates nes ($18.3B), Petroleum spirit for motor vehicles ($17B), Electronic integrated circuits: processors and controllers,... ($10.5B), and Propane, liquefied ($9.37B).
Top Origin (2020): Mexico, $88.7B
Top Import (2020): Petroleum oils, oils from bituminous minerals,..., $16.2B
In 2020 the top import origins of Texas were Mexico ($88.7B), China ($28.5B), Japan ($20.3B), Canada ($15.2B), and Vietnam ($11.1B).
In 2020 the top imports of Texas were Petroleum oils, oils from bituminous minerals,... ($16.2B), Units of automatic data processing machines:... ($13.8B), Communication apparatus (excluding telephone sets or... ($8.94B), Telephones for cellular networks or for... ($8.74B), and Medium Sized Cars ($8.32B).
Economic Complexity (2020): 0.34
Texas ranks 22nd 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 Photographic Film (0.22), Developed Exposed Photographic Material (0.22), Halides (0.22), Aircraft Launch Gear (0.21), and Artificial Filament Tow (0.21).
The highest complexity exports of Texas according to the product complexity index (PCI) are Other Esters (1.85), Iron Fasteners (1.81), Oscilloscopes (1.77), Blank Audio Media (1.74), and Metal Pickling Preparations (1.71). 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 (39.7), Pig and Poultry Fat (17.9), Nitrile Compounds (10.2), Raw Cotton (9.47), and Alcohol > 80% ABV (8.77).
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.
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