Texas has been ranked the top exporting state in 2010 for the ninth year in a row, according to data released by the U.S. Department of Commerce, signaling Texas’ ongoing role in leading the nation toward economic recovery.
Texas’ exports in 2010 totaled more than $206.6 billion, up 26.7 percent from $162.9 billion in 2009, outperforming overall U.S. exports, which grew by 20.9 percent in 2010. The state’s top export recipients were Mexico, Canada, China, Brazil and South Korea, which respectively imported $72.3 billion, $18.6 billion, $10.2 billion, $7.1 billion and $6.4 billion in Texas-manufactured goods. Additionally, Texas’ top exporting industries in 2010 were computers and electronics, chemicals, petroleum and coal, machinery, and transportation equipment.
Texas continues to outperform the rest of the nation in job creation, maintaining an unemployment rate a point lower than the national average, creating more jobs in 2010 than any other state, and achieving a job growth rate in 2010 nearly double that of any other top ten state.
Texas' economy also continues to receive national recognition. Newsweek recently ranked four Texas cities in its list of 10 cities best situated for economic recovery, and described Texas as the top destination for job-seeking Americans. The Wall Street Journal recently credited the state's low taxes and employer-friendly environment with helping make Texas the job creation capital of the nation. Standard & Poor’s issued a report in October affirming Texas’ status as a national economic leader and touting the policies that made Texas one of the last states to fall into the national recession, and the first leading the way out. Texas also remains home to more Fortune 1000 companies than any other state. (2/16/11)