In the 1990s, California was America’s export leader. Then, in 2002, Texas took the lead and never looked back. For the 11th year in a row, Texas remains the top exporting state according to 2012 annual trade data released by the U.S. Department of Commerce. Total exports for the state increased 5.4% from 2011, reaching $265 billion, and ultimately outperformed overall U.S. exports.
Once dependent on natural gas imports, the U.S. has gone from a buyer to a potential seller after recent natural gas discoveries across the country (as stated in a previous PIERS blog) are made accessible with new extraction technology. The U.S. oil and gas industry has been surging and Texas has been a beneficiary of that trend with its top exporting industry in 2012 being petroleum and coal products. Other top exporting commodities were chemicals, computer and electronic products, non-electrical machinery and transportation equipment.
“The fact that Texas is ranked the nation’s top exporter for the 11th year in a row further demonstrates that our strong economic climate provides a broad range of opportunities for businesses to succeed,” said Texas Governor Rick Perry.
Could it be that America is making progress towards the President’s goal of doubling U.S. exports by the end of 2015? To learn more about the unique advantages of using PIERS U.S. Export Data visit www.piers.com/usexports or click here to register for a free demo.