Economy of Texas
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 $2.932 trillion as of 2025. In 2024, Texas had the most Fortune 500 (F500) companies of any state with 53 in total; elevated to 57 F500 companies, the lead was again designated as Texas in 2026. In 2023, Texas grossed more than $440 billion a year in exports, more than double the next highest state California ($178 billion). The state continued the lead, exporting over $450 billion in goods in 2025, while importing almost $412 billion during the same year, an increase of 3.7% over 2024 imports. The state ranked as the eighth-largest economy, were it among sovereign nations of the world, by nominal GDP, ahead of Canada, South Korea, Russia, and Australia, in 2022. In 2024, Texas had a median household income of $79,721. As of 2024, the state had $73,032,946,298 in total outstanding state debt, including both general obligation of $16,611,730,000 and...
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