Advertisement

businessEconomy

Texas is by far the No. 1 state for global exports, and here's where they go

Texas business leaders have been expressing concerns about what effect the ongoing trade war could have on the state's economy. So how much does Texas trade internationally?

The Trump administration's decision to impose tariffs on items including aluminum, steel and certain Chinese products has brought the issue of trade center stage.

Although President Donald Trump and the European Union agreed to discuss eliminating the most damaging tariffs, their impact is beginning to be felt in some industries.

Texas business leaders have been expressing concerns about what effect the ongoing trade war could have on the state's economy. So how much does Texas trade internationally?

Advertisement

Trading partners

Mexico and Canada -- the United States' partners in NAFTA -- are the two largest destinations of exports from Texas. In 2017, exports from Texas increased after two consecutive down years.

Business Briefing

Become a business insider with the latest news.

Or with:

Texas exports to the state's top 10 trading partners in 2017 (click to see values):

Advertisement

Value and percentage of Texas exports to the state's top four trading partners

Total Texas exports and percentage share of U.S. total

Advertisement

"Exports plus imports amount to 31 percent of our state's GDP - higher than the U.S. economy's overall reliance on trade, at 27 percent of GDP, and the sixth highest trade-to-GDP ratio of the 50 states. ... A long-term contraction in trade would constitute one of the worst imaginable threats to the Texas miracle."

Cullum Clark, director, Bush Institute, SMU Economic Growth Initiative

Titan of trade

Texas is well ahead of California in total exports so far in 2018 (through the end of May, in billions).

Crude facts

Not surprisingly, oil and gas products top the list of exports from Texas.

Top Texas exports and percentage share of U.S. total in 2017 (in billions)

Advertisement

"Texas is the nation's No. 1 exporting state, totaling $264 billion, and our economic success largely depends on trade with our international partners. Anything that negatively impacts Texas will severely hurt the U.S. economy, since we contribute $1.5 trillion to the national GDP."

Dale Petroskey, president and CEO, Dallas Regional Chamber

Open market

Texas also imported more in 2017 than in the previous two years (in billions).

Advertisement

"Members of the Texas business community, across the political spectrum, are worried about the Trump administration's trade war. And looking at the data, it's not hard to understand why: Texas has been the top exporting state so far in 2018, and it's not particularly close."

Aidan Quigley, staff writer, The Dallas Morning News

SOURCE: United States Census Bureau