AUSTIN — Texas leads the nation as No. 1 exporting state for the 20th year in a row, accounting for more exports than California, New York and Louisiana combined, according to Bureau of Economic Analysis (BEA), U.S. Department of Commerce, figures released this week.
“Twenty years is a long time to hold onto the top spot in U.S. trade and exports. But Texas has maintained its position through steady and robust economic growth,” said Robert Allen, President and CEO of the Texas Economic Development Corporation. “This growth is the result of good decisions by elected leaders on the state as well as community level as well as a strategic partnership between the state and its regional economic development partners to maintain the conditions in Texas in which businesses can best grow and thrive.”
Texas exceeds other major export states
As of December 2021, Texas exports year to date totaled $375. 3 billion, exceeding both 2019 and 2020 totals. Texas was also No. 1 in tech exports for the ninth year in a row. In total, Texas exports accounted for almost 1 million jobs, according to the Office of the Texas Governor.
Texas exports exceeded those of the next three largest states combined, BEA data shows.
Texas’s export trade was more that 11% greater than the $336 billion sum of these states: California, $175 billion; New York, $84.8 billion; and Louisiana, $76.8 billion.
Texas’s unique economic advantages are key to success
In addition to a reasonable regulatory environment and low tax burden, Texas has a unique set of business-friendly attributes that give it the edge over other states.
“Made in Texas is a powerful global brand, and the Lone Star State continues to dominate the nation in exports, thanks to our unrivaled and productive workforce, robust infrastructure and welcoming business environment,” said Gov. Greg Abbott.
Texas also offers logistical advantages, such as access to air, land and sea global trade and supply chain routes, he said.
“When attracting businesses and jobs from across the country and around the globe, one Texas advantage tops them all: We want businesses to succeed in Texas, because when businesses succeed in Texas, all Texans succeed,” Abbott said.
Source: U.S. Bureau of Economic Analysis