Economy of Texas
economy of the state of the United States
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 $2.769 trillion as of 2024. 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 revenue debt of $56,421,216,298. With $8,348,956,000 of total debt issued including $1,235,430,000 general obligation and $7,113,526,000 revenue supported. Texas has the second largest population in the country, following California, as of 2025.
The public source identifies “Economy of Texas” as economy of the state of the United States. This brief keeps that definition visible, then builds a research path around Economy, Texas and economy.
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This entry incorporates text from “Economy of Texas” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.