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TX Exporters Fare Better Than Those in Other States

In a year of unmatched economic decline, unprecedented job losses and thousands of business closures, Texas exporters were not spared from the pain but endured better than many, according to a new analysis released by Beacon Economics. In 2020, Texas’s merchandise export trade plunged 15.1% from 2019 levels. This was a tumble driven by COVID’s unprecedented drag on economic activity as well as pressure from U.S. tariff disputes with major trading partners, and severe economic setbacks in Mexico and Canada, Texas’ two largest export markets.

Still, the state’s export industry has not experienced the staggering declines some major exporting states have endured. While the 2020 fall-off in Texas exports was steeper than the 12.9 percent decline in the nation overall, it was not as sharp as the 18.2 percent drop sustained by both New York and Florida, and much less severe than Michigan’s 21.2% descent or the 31.6% nosedive suffered by Washington State.

“The Lone Star State is in no danger of losing its rank as the number one exporting state in the U.S., a status it’s enjoyed since overtaking California in 2003,” said Jock O’Connell, Beacon Economics’ international trade adviser and the report’s author. “Texas now exports as much as the next three largest exporting states combined.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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