Texas posts significant gains in export trade in June 2021
Texas shows significant gains in trade exports as of June 2021 over June 2020, according to this month’s U.S. International Trade in Goods and Services June 2021 report by the U.S. Bureau of Economic Analysis.
Texas moved significantly ahead of 2020 June reported export trade, with an increase of 60% and greatly exceeded 2020 year to date trend with an increase of 25%. The 2021 June output total was $31.6 billion — up from $19.7 billion for 2020 June. The reported 2021 June YTD output total was $171 billion — up from $136 billion for 2020 June YTD, according to the report, released Aug. 5.
This continued improvement in export data is good news for Texas, said Robert Allen, President and CEO of the Texas Economic Development Corporation in Austin, Texas.
The 2021 June YTD results show the Lone Star State with $171.9 billion in export trade, greater than the $165.2 billion sum of the next three largest states: California with $86.1 billion; New York with $42.7 billion; and Louisiana with $36.3 billion, according to the BEA report.
“Texas has been the top exporting state in the United States for the past 19 years,” Allen said. “Texas has developed a remarkable track record of economic success. We are still outpacing the competition in exports, and that’s a really good sign of what the future holds for Texas business and industry.”
The United States also posted gains in June 2021 over June 2020, with more than 40% growth in reported export trade and a year-to-date trend increase of 22%.
Source: U.S. Bureau of Economic Analysis