Texas No. 1 In Foreign Trade During Third Quarter

Texas continues to be a leader in international trade, ranking No. 1 in exports of manufactured and non-manufactured commodities for the third quarter, according to the U.S. Census Bureau. Year-to-date, Texas has exported an estimated $155.8 billion in manufac

Benzinga · 12/26/2019 13:37

Texas continues to be a leader in international trade, ranking No. 1 in exports of manufactured and non-manufactured commodities for the third quarter, according to the U.S. Census Bureau.

Year-to-date, Texas has exported an estimated $155.8 billion in manufactured goods and $68.7 billion in non-manufactured commodities, ranking it No. 1 in both categories among U.S. states.

The four top states for exports of manufactured goods year-to-date after Texas are California at an estimated $93.7 billion; Michigan, $39 billion; Illinois, $38.8 billion; and Ohio, $35.5 billion, according to the U.S. Census Bureau's Exports by Metropolitan Area Report released on Dec. 19.

Mexico was the top destination for exports from Texas at $109.7 billion in 2018, representing 35% of the state's total goods exported, according to the census bureau report as well as data from the Office of the U.S. Trade Representative. Canada was second at $27.5 billion.

Texas has accounted for 16.5% of U.S. exports of manufactured and 34.9% of non-manufactured goods so far this year, according to the bureau's report. 

The top manufactured commodities exported by Texas include crude oil and petroleum, propane, liquified natural gas and parts/accessories for automatic data processing machines. The top non-manufactured goods produced in Texas include cattle (beef), cotton, chickens, greenhouse and nursery products and dairy products.

The top imports for Texas during the third quarter were crude oil, computers, car engines, cars and car parts and cell phones. 

Houston was the top U.S. metro area in terms of exports in the third quarter at $31.3 billion, according to the study. Houston's economy is closely tied to the energy industry, particularly oil and liquified natural gas.

Other top U.S. metro areas for exports in the third quarter were New York-Newark-Jersey City at $20.3 billion; Los Angeles-Long Beach-Anaheim, $14.9 billion; Chicago-Naperville-Elgin, $10.4 billion; and Detriot-Warren-Dearborn, $10.3 billion. 

Other Texas metro areas to make the list of top U.S. exporters in the third quarter were Dallas-Fort Worth-Arlington at $10 billion, and El Paso, $8.2 billion.

Image by Mathias Westermann from Pixabay