Texas exports are 20 % of US total outpacing other states

CNBC:
Robust demand for Texas oil and gas in the first two months of 2019 pushed the state’s export activity into high gear: triple the national rate and contrasting with a slight decline by California.

The Lone Star State’s exports totaled more than $50.9 billion in the January-February period of 2019, increasing 9% from a year earlier, according to WISERTrade, a trade research firm. For California, total international sales dipped 1% to $28.1 billion in the two months compared with national export growth of 2.6% to $260 billion in the period.

Texas represented nearly 20% of all U.S. exports in the January-February period while California accounted for about 11%. California has seen its share of total U.S. exports fall in recent years while Texas has been growing its share due mainly to the new oil boom.

“Two-thirds of the U.S. increase in exports over these last two months have come from Texas,” said Michael Cox, a former chief economist for the Federal Reserve Bank of Dallas and an executive in residence at Southern Methodist University. “And 99.4% of that is oil and gas.”
...
As new infrastructure come online Texas export of oil and gas is expected to significantly increase in coming months.  Agricultural exports are down for the same period due to the trade dispute with China.  If that gets resolved Texas could see even more growth in exports.

Comments

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

29 % of companies say they are unlikely to keep insurance after Obamacare

Bin Laden's concern about Zarqawi's remains