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The sum of the imports of the states is lower than the value of the United States' total imports. The difference results from goods originating from states of origin, returned goods and goods with unidentified states of origin. Overall, Texas has the highest export rank, while the Northern Mariana Islands has the lowest export rank.
Manufacturing output recovered from the Great Recession, reaching an all-time high in 2021, but manufacturing employment has been declining since the 1990s, giving rise to what is known as a "jobless recovery," which made job creation or preservation in the manufacturing sector an important topic in the 2016 United States presidential election. [4]
Texas counties by GDP in 2021 (chained 2012 US$) The economy of the State of Texas is the second largest by GDP in the United States after that of California. It has a gross state product of $2.694 trillion as of 2023. [7] In 2022, Texas led the nation with the most companies in the Fortune 500 with 53 in total. [8]
The availability of adequate foreign exchange with which to pay for imports; and; Prices of goods manufactured at home (influenced by the responsiveness of supply) In addition, the trade balance is likely to differ across the business cycle. In export-led growth (such as oil and early industrial goods), the balance of trade will shift towards ...
The economy of Houston is based primarily on the energy industry, particularly oil.However, health care, biomedical research, and aerospace also constitute large sectors. In 2021, the gross domestic product (GDP) of the Houston–The Woodlands–Sugar Land metropolitan statistical area (MSA) was 537 U.S. dollars billion, the fourth-largest of any metro area in the United States. [1]
Trophy Club was the first master-planned community in Texas, with over 1,000 acres of parks, 36 holes of golf and a high standard of living. Incomes are quite high in the city of 14,000, at more ...
Texas has the most farms of all United States both in terms of number and size. Agriculture is a major contributor to the economy of Texas and is the primary land use in the state. It is the country's leading producer of livestock. Wine production in Texas is significant, although small by global standards
In the late 1970s Detroit and the auto workers union combined to fight for protection. They obtained not high tariffs, but a voluntary restriction of imports from the Japanese government. [106] Quotas were two-country diplomatic agreements that had the same protective effect as high tariffs, but did not invite retaliation from third countries.