Texas top exporting state for 11th year
Office of Governor Rick Perry:
Texas is ranked as the number one exporting state for the 11th year in a row, according to 2012 annual trade data released today by the U.S. Department of Commerce.
"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," Gov. Perry said. "Our longstanding commitment to holding the line on taxes, keeping our workforce strong, and maintaining reasonable regulations and fair courts has led to more than a decade of leading the nation in exports."
Texas exports for 2012 totaled $265 billion, a 5.4 percent increase from $251 billion in 2011 and outperformed overall U.S. exports, which only grew by 4.3percent to $1.54 trillion. The state's top export recipients were Mexico, Canada, China, Brazil, and the Netherlands, which respectively imported $94.8 billion, $23.7 billion, $10.3 billion, $10.0 billion, and $9.5 billion in Texas-manufactured goods. Additionally, Texas' top exporting industries in 2012 were petroleum and coal products, chemicals, computer and electronic products, non-electrical machinery, and transportation equipment.
...The Governor appears to have some more ammunition to take with him on his recruiting trip to California. I think the growth of the Texas energy business will probably keep Texas in the lead, because it is already leading to construction of huge new chemical plants to take advantage of the low priced shale gas.