TexasState in United States
2022 Economic Complexity : 0.2, Rank 33 of 52
Mar 2023 Trade Exports | Imports: $40.6B | $32.6B, 1 of 54 | 2 of 54
Mar 2023 Country Destination | Origin: Mexico | Mexico , $11.8B | $12.9B
Mar 2023 Product Exports | Imports: Petroleum oils, oils from bituminous minerals, crude | Petroleum oils, oils from bituminous minerals, crude , $9.8B | $1.98B
Overview This page contains the latest international trade data for Texas. In March 2023 Texas was the number 1 in total exports and the number 2 in total imports in United States.
Exports In 2022, United States' Texas exported $486B, making it the 1st largest exporter out of the 53 exporters in United States. In 2022 the top exports of Texas were Petroleum oils, oils from bituminous minerals,... ($108B), Light petroleum distillates nes ($42.2B), Petroleum spirit for motor vehicles ($38.6B), Propane, liquefied ($22.1B), and Natural gas, liquefied ($12B).
Imports In 2022, United States' Texas imported $384B, making it the 2nd largest importer out of the 53 importers in United States. In 2022 top imports of Texas were Petroleum oils, oils from bituminous minerals,... ($37.1B), Units of automatic data processing machines:... ($25.5B), Light petroleum distillates nes ($13.9B), Smartphones ($13.1B), and Communication apparatus (excluding telephone sets or... ($11.9B).
Economic Complexity In 2022, the highest complexity exports of Texas according to the product complexity index (PCI) are Nitrile Compounds (1.06), Halogenated Hydrocarbons (0.89), Antiknock (0.59), Acyclic Hydrocarbons (0.33), Sodium or Potassium Peroxides (0.29), Ethers (0.085), Ethylene Polymers (-0.17), Petroleum Gas (-2.11), Sorghum (-2.47), and Raw Cotton (-2.68). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
March, 2023
Overview In March 2023 Texas exported $40.6B and imported $32.6B, resulting in a positive trade balance of $8.09B. Between March 2022 and March 2023 the exports of Texas have decreased by $-1.43B (-3.4%) from $42.1B to $40.6B, while imports decreased by $-2B (-5.78%) from $34.6B to $32.6B.
Trade In March 2023, the top exports of Texas were Crude Petroleum ($9.8B), Refined Petroleum ($6.31B), Petroleum Gas ($3.33B), Integrated Circuits ($1.51B), and Ethylene Polymers ($1.01B). In March 2023 the top imports of Texas were Computers ($2.22B), Crude Petroleum ($1.98B), Telephones ($1.92B), Cars ($1.84B), and Refined Petroleum ($1.17B).
Destinations In March 2023, Texas exported mostly to Mexico ($11.8B), Canada ($3.21B), Netherlands ($2.73B), China ($2.66B), and South Korea ($1.49B), and imported mostly from Mexico ($12.9B), Canada ($2.85B), China ($2.64B), Vietnam ($1.29B), and Germany ($999M).
Growth In March 2023, the decrease in Texas's year-by-year exports was explained primarily by an decrease in exports to Romania ($-185M or -97%), Taiwan ($-149M or -16.2%), and Japan ($-105M or -8.25%), and product exports decrease in Tanks and Armored vehicles ($-186M or -100%), Soybeans ($-137M or -94%), and Machines and apparatus of a kind... ($-96M or -11.9%). In March 2023, the decrease in Texas's year-by-year imports was explained primarily by an decrease in imports from Russia ($-125M or -28.2%), Italy ($-115M or -28.9%), and Estonia ($-74.1M or -51%), and product imports decrease in Jewellery ($-162M or -74.7%), Vaccines, blood, antisera, toxins and cultures ($-147M or -73.8%), and Delivery Trucks ($-79.8M or -25%).
EXPORT GROWTH (March 2022 - March 2023): $-1.43B, (-3.4%)
IMPORT GROWTH (March 2022 - March 2023): $-2B, (-5.78%)
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 (2022): Mexico, $144B
Top Product (2022): Petroleum oils, oils from bituminous minerals,..., $108B
In 2022 the top export destinations of Texas were Mexico ($144B), Canada ($38.2B), China ($22B), South Korea ($21.7B), and Netherlands ($19.9B).
In 2022 the top exports of Texas were Petroleum oils, oils from bituminous minerals,... ($108B), Light petroleum distillates nes ($42.2B), Petroleum spirit for motor vehicles ($38.6B), Propane, liquefied ($22.1B), and Natural gas, liquefied ($12B).
Fastest Growing Exports Destination (Mar 2022 - Mar 2023)
Top Origin (2022): Mexico, $141B
Top Import (2022): Petroleum oils, oils from bituminous minerals,..., $37.1B
In 2022 the top import origins of Texas were Mexico ($141B), China ($38.5B), Canada ($32.9B), Vietnam ($20.8B), and Japan ($11.2B).
In 2022 the top imports of Texas were Petroleum oils, oils from bituminous minerals,... ($37.1B), Units of automatic data processing machines:... ($25.5B), Light petroleum distillates nes ($13.9B), Smartphones ($13.1B), and Communication apparatus (excluding telephone sets or... ($11.9B).
Economic Complexity (2022): 0.2
Texas ranks 33rd 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 (0.16), Artificial Filament Tow (0.15), Developed Exposed Photographic Material (0.15), Photo Lab Equipment (0.15), and Photographic Film (0.15).
The highest complexity exports of Texas according to the product complexity index (PCI) are Nitrile Compounds (1.06), Halogenated Hydrocarbons (0.89), Antiknock (0.59), Acyclic Hydrocarbons (0.33), Sodium or Potassium Peroxides (0.29), Ethers (0.085), Ethylene Polymers (-0.17), Petroleum Gas (-2.11), Sorghum (-2.47), and Raw Cotton (-2.68). 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 (15.4), Ethers (12.5), Raw Cotton (9.8), Nitrile Compounds (9.5), and Acyclic Hydrocarbons (9.3).
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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