Texas leads the nation as No. 1 state in exports for 19th consecutive year

Texas leads the nation as No. 1 state in exports for 19th consecutive year

AUSTIN — Texas ended 2020 as the No. 1 exporting state in the United States for the 19th consecutive year, more evidence of the strength and resilience of the state’s economy, said Robert Allen, president and CEO of the Texas Economic Development Corporation.

“Texas has developed a remarkable track record of economic achievement,” Allen said. “Texas is and has been the No. 1 exporting state in the nation, the best state business climate, and the world’s ninth largest economy. Even with all the challenges we faced in 2020, we are still outpacing the competition in exports — handily, I might add — that’s a really good sign.”

With $279 billion in export trade in 2020, Texas continues to lead the United States as it has for the past two decades. Texas’ 2020 exports were larger than the sum total of goods exported by the next three largest export states — California with $156 billion in exports, New York with $61.9 billion and Louisiana with $59.6 billion, Allen said.

Texas is also the No. 1 exporting state of technology products for the eighth consecutive year as well, according to the U.S. Census Bureau, with $44.8 billion in exports. California was in second place with $37.5 billion in exports.

The U.S. Bureau of Economic Analysis released 2020 export data on Feb. 5. This data shows the pandemic had a negative effect on exports across the nation in 2020, but a combination of factors that sustain Texas’ economy helped it retain its top spot on the list of exporters by state.

“Those factors include Texas’ pro-business climate of low taxes and reasonable regulations, its economic diversity, the second largest workforce in the nation, and its award-winning infrastructure — among many others,” Allen said.

Texas’ strong record of economic strength — even during times of national recession — should be reassuring to corporate decision-makers considering Texas as the place to relocate or expand their businesses, Allen said.

“Texas will continue to grow,” he said. “People say, ‘Everything’s bigger in Texas’ because it is. That’s the way Texas thinks.”

Source: https://businessintexas.com/texas-leads-the-nation-as-1-state-in-exports-for-19th-consecutive-year/

Brant Foy

Brant E. Foy is a reporter for Business Journal.  He has previously worked for the Waco Star Journal.  As a contributor to Business Journal, Brant covers emerging business developments, legal and trending technology related stories.