TexasState in United States
2020 Economic Complexity : 0.26, Rank 29 of 52
Nov 2022 Trade Exports | Imports: $39.1B | $30.8B, 1 of 54 | 2 of 54
Nov 2022 Country Destination | Origin: Mexico | Mexico , $11.1B | $11.7B
Nov 2022 Product Exports | Imports: Petroleum oils, oils from bituminous minerals, crude | Units of automatic data processing machines: processing units..., $9.48B | $2.32B
Overview This page contains the latest international trade data for Texas. In November 2022 Texas was the number 1 in total exports and the number 2 in total imports in United States.
Exports In 2021, United States' Texas exported $375B, making it the 1st largest exporter out of the 53 exporters in United States. In 2021 the top exports of Texas were Petroleum oils, oils from bituminous minerals,... ($62.5B), Petroleum spirit for motor vehicles ($28.9B), Light petroleum distillates nes ($24B), Propane, liquefied ($18.6B), and Electronic integrated circuits: processors and controllers,... ($11.2B).
Imports In 2021, United States' Texas imported $313B, making it the 2nd largest importer out of the 53 importers in United States. In 2021 top imports of Texas were Petroleum oils, oils from bituminous minerals,... ($24.1B), Units of automatic data processing machines:... ($15.1B), Communication apparatus (excluding telephone sets or... ($11.6B), Telephones for cellular networks or for... ($11.1B), and Light petroleum distillates nes ($8.89B).
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), Pig and Poultry Fat (0.73), Antiknock (0.63), and Acyclic Hydrocarbons (0.48). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
November, 2022
Overview In November 2022 Texas exported $39.1B and imported $30.8B, resulting in a positive trade balance of $8.33B. Between November 2021 and November 2022 the exports of Texas have increased by $4.24B (12.2%) from $34.9B to $39.1B, while imports increased by $1.07B (3.62%) from $29.7B to $30.8B.
Trade In November 2022, the top exports of Texas were Crude Petroleum ($9.48B), Refined Petroleum ($6.28B), Petroleum Gas ($3.23B), Integrated Circuits ($1.55B), and Ethylene Polymers ($987M). In November 2022 the top imports of Texas were Computers ($2.75B), Crude Petroleum ($2.24B), Telephones ($1.78B), Cars ($1.61B), and Refined Petroleum ($1.08B).
Destinations In November 2022, Texas exported mostly to Mexico ($11.1B), Canada ($2.99B), China ($2.14B), South Korea ($2.04B), and India ($1.73B), and imported mostly from Mexico ($11.7B), China ($2.83B), Canada ($2.77B), Vietnam ($1.37B), and Malaysia ($905M).
Growth In November 2022, the increase in Texas's year-by-year exports was explained primarily by an increase in exports to China ($1.11B or 170%), Japan ($308M or 30.7%), and Romania ($182M or 2.02k%), and product exports increase in Petroleum Gas ($878M or 44.2%), Machines and apparatus of a kind... ($297M or 58.3%), and Tanks and Armored vehicles ($186M or 23.7k%). In November 2022, the increase in Texas's year-by-year imports was explained primarily by an increase in imports from Japan ($201M or 13.7%), Vietnam ($201M or 26%), and China ($197M or 8.05%), and product imports increase in Telephones ($303M or 21.4%), Cars ($160M or 9.63%), and Jewellery ($145M or 194%).
EXPORT GROWTH (November 2021 - November 2022): $4.24B, (12.2%)
IMPORT GROWTH (November 2021 - November 2022): $1.07B, (3.62%)
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 (2021): Mexico, $123B
Top Product (2021): Petroleum oils, oils from bituminous minerals,..., $62.5B
In 2021 the top export destinations of Texas were Mexico ($123B), Canada ($28.9B), China ($21.1B), South Korea ($18.6B), and Brazil ($14.6B).
In 2021 the top exports of Texas were Petroleum oils, oils from bituminous minerals,... ($62.5B), Petroleum spirit for motor vehicles ($28.9B), Light petroleum distillates nes ($24B), Propane, liquefied ($18.6B), and Electronic integrated circuits: processors and controllers,... ($11.2B).
Top Origin (2021): Mexico, $108B
Top Import (2021): Petroleum oils, oils from bituminous minerals,..., $24.1B
In 2021 the top import origins of Texas were Mexico ($108B), China ($34.7B), Japan ($21.4B), Canada ($21.3B), and Vietnam ($14.7B).
In 2021 the top imports of Texas were Petroleum oils, oils from bituminous minerals,... ($24.1B), Units of automatic data processing machines:... ($15.1B), Communication apparatus (excluding telephone sets or... ($11.6B), Telephones for cellular networks or for... ($11.1B), and Light petroleum distillates nes ($8.89B).
Economic Complexity (2021): 0.26
Texas ranks 29th 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 Chemicals (0.18), Artificial Filament Tow (0.18), Developed Exposed Photographic Material (0.18), Halides (0.18), and Photo Lab Equipment (0.17).
The highest complexity exports of Texas according to the product complexity index (PCI) are Nitrile Compounds (1.08), Halogenated Hydrocarbons (0.94), Pig and Poultry Fat (0.73), Antiknock (0.63), and Acyclic Hydrocarbons (0.48). 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 (41.1), Pig and Poultry Fat (23.7), Nitrile Compounds (9.9), Ethers (9.8), and Acyclic Hydrocarbons (8.2).
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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