TexasState in United States
Exports (2019): $330B, Rnk 1/53
Top Destination (2019): $109B, Mexico
Top Export (2019): $57.8B, Petroleum oils, oils from bituminous minerals,...
Imports (2019): $294B, Rnk 2/53
Top Origin (2019): $104B, Mexico
Top Import (2019): $25.6B, Petroleum oils, oils from bituminous minerals,...
Economic Complexity (2019): 0.27, Rnk 25 / 53
Exports: In 2019, United States' Texas exported $330B, making it the 1st largest exporter out of the 53 exporters in United States. In 2019 the top exports of Texas were Petroleum oils, oils from bituminous minerals,... ($57.8B), Light petroleum distillates nes ($25.4B), Petroleum spirit for motor vehicles ($22.6B), Aircraft parts nes ($10.8B), and Propane, liquefied ($10.5B).
Imports: In 2019, United States' Texas imported $294B, making it the 2nd largest importer out of the 53 importers in United States. In 2019 top imports of Texas were Petroleum oils, oils from bituminous minerals,... ($25.6B), Units of automatic data processing machines:... ($18.8B), Medium Sized Cars ($13.9B), Telephones for cellular networks or for... ($13.5B), and Communication apparatus (excluding telephone sets or... ($9.47B).
Economic Complexity: In 2019, the highest complexity exports of Texas according to the product complexity index (PCI) are Metal Pickling Preparations (1.71), Acrylic Polymers (1.61), Valves (1.48), Blank Audio Media (1.48), and Lubricating Products (1.47). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Top Destination (2019): Mexico, $109B
Top Product (2019): Petroleum oils, oils from bituminous minerals,..., $57.8B
In 2019 the top export destinations of Texas were Mexico ($109B), Canada ($28.4B), South Korea ($16.9B), Brazil ($13.5B), and Netherlands ($11.7B).
In 2019 the top exports of Texas were Petroleum oils, oils from bituminous minerals,... ($57.8B), Light petroleum distillates nes ($25.4B), Petroleum spirit for motor vehicles ($22.6B), Aircraft parts nes ($10.8B), and Propane, liquefied ($10.5B).
Top Origin (2019): Mexico, $104B
Top Import (2019): Petroleum oils, oils from bituminous minerals,..., $25.6B
In 2019 the top import origins of Texas were Mexico ($104B), China ($33.4B), Japan ($24.1B), Canada ($18.9B), and Vietnam ($13.2B).
In 2019 the top imports of Texas were Petroleum oils, oils from bituminous minerals,... ($25.6B), Units of automatic data processing machines:... ($18.8B), Medium Sized Cars ($13.9B), Telephones for cellular networks or for... ($13.5B), and Communication apparatus (excluding telephone sets or... ($9.47B).
Fastest Growing Import Origins (May 2019 - May 2020)
This section shows differences between total trade from Texas throughout time.
The states and territories of United States with the highest exports in 2019 were Texas ($330B), California ($173B), New York ($73B), Louisiana ($63.5B), and Washington ($60B)
The states and territories of United States with the highest imports in 2019 were California ($408B), Texas ($294B), Illinois ($164B), Michigan ($142B), and New York ($131B)
This section shows forecasts for total exports and imports from Texas. The forecast is based in a Long Short-Term Memory Model constructed using monthly trade data.
Texas ranks 25th out of the 53 states and territories in United States according to ECI.
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 (0.21), Halides (0.21), Artificial Filament Tow (0.21), Silicone (0.21), and Photographic Paper (0.21).
The highest complexity exports of Texas according to the product complexity index (PCI) are Metal Pickling Preparations (1.71), Acrylic Polymers (1.61), Valves (1.48), Blank Audio Media (1.48), and Lubricating Products (1.47). 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 Nitrile Compounds (11.2), Raw Cotton (11), Ethers (9.34), Alcohol > 80% ABV (8.49), and Sorghum (7.61).
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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