June 2008

Real Texas exports saw a turnaround in the first quarter of 2008, rising 3.9 percent, following a 0.4 percent decline in the previous quarter.[1] Texas exports are up a solid 10.4 percent from year-ago levels.

The first-quarter rise in export growth was broad-based across Texas’ major trading partners (Chart 1). Exports to Mexico, which make up a third of the state’s total, edged up 1.7 percent.[2] Exports to Asia (excluding China), Canada, China and the European Union rose 2.5 percent, 4 percent, 4.2 percent and 4.8 percent, respectively. Exports to Latin America (excluding Mexico) climbed sharply, registering a solid 20.6 percent increase.

Chart 1

Growth varied across the state’s top four export industries during the quarter. Chemical exports grew at a strong clip, rising 6.2 percent. Transportation equipment and computer and electronics exports grew 3.6 percent and 2.6 percent, respectively, while exports of industrial machinery fell 2 percent. So far in 2008, the top ten Texas commodities exported (in terms of dollar value) were chemicals, computer and electronic products, nonelectrical machinery, petroleum and coal products, transportation equipment, electrical equipment, agricultural products, primary metals, fabricated metals and food and kindred products.[3]

Chart 2

Notes All data used in this analysis have been seasonally adjusted. Growth rates are not annualized unless otherwise noted. The source of quarterly export data is the World Institute for Strategic Economic Research (WISER Trade). For additional information or questions, please contact Laila Assanie at 214-922-5191.