Overview: In May 2021 Texas exported $30.1B and imported $24.4B, resulting in a positive trade balance of $5.74B. Between May 2020 and May 2021 the exports of Texas have increased by $14.3B (90.6%) from $15.8B to $30.1B, while imports increased by $8.54B (53.9%) from $15.8B to $24.4B.
Trade: In May 2021, the top exports of Texas were Crude Petroleum ($4.69B), Refined Petroleum ($4.44B), Petroleum Gas ($2.99B), Integrated Circuits ($1.32B), and Ethylene Polymers ($857M). In May 2021 the top imports of Texas were Crude Petroleum ($1.93B), Cars ($1.78B), Telephones ($1.44B), Computers ($1.42B), and Refined Petroleum ($1.06B).
Destinations: In May 2021, Texas exported mostly to Mexico ($10B), Canada ($2.36B), China ($1.88B), South Korea ($1.52B), and Japan ($1.06B), and imported mostly from Mexico ($8.57B), China ($2.5B), Canada ($1.68B), Japan ($1.67B), and Vietnam ($874M).
Growth: In May 2021, the increase in Texas's year-by-year exports was explained primarily by an increase in exports to Mexico ($5.89B or 142%), Canada ($1.14B or 93.8%), and India ($705M or 265%), and product exports increase in Refined Petroleum ($3.24B or 268%), Crude Petroleum ($2.62B or 127%), and Petroleum Gas ($1.8B or 151%). In May 2021, the increase in Texas's year-by-year imports was explained primarily by an increase in imports from Mexico ($4.04B or 89.1%), Canada ($750M or 80.9%), and Japan ($472M or 39.4%), and product imports increase in Cars ($878M or 97.1%), Crude Petroleum ($870M or 82.4%), and Refined Petroleum ($642M or 155%).