11 mind-blowing facts about Texas' economy
Wade Sumpter of Fowler, Colorado wrestles a steer in the steer wrestling event during day 3 of the Calgary Stampede rodeo in Calgary, Alberta, July 6, 2014. REUTERS/Todd Korol
- Texas is experiencing a booming economy these days, with rapid advancements in many sectors not traditionally associated with the Lone Star State.
- Petroleum products remain the state's largest export, but advanced computer and machinery components account for five of its 10 main exports.
- Here are 11 amazing and unexpected facts about the Texan economy that will change the way you think about the 28th state.
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Not everything is bigger in Texas after all.
Texas is the second-largest state in terms of landmass, trailing behind Alaska. And it's second in population, as well, behind California. Texas also trails behind California in terms of annual GDP.But beyond those few areas where the Lone Star State lags behind, most statistics related to the place truly are Texas-sized, especially when it comes to its economy.
From its sky-high oil production to its surprisingly massive wine industry, here are 11 incredible facts about the economy of Texas.
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Texas produces almost 40% of America's oil
If Texas were an independent nation, it would have the 10th largest GDP on earth
Texas produces more than $13 billion worth of wine each year
Texas is the largest producer of wind power in America
The richest city in Texas has a per-capita income six times higher than the poorest
Most Texas exports go south to Mexico
There are about 28 times more businesses operating in Texas than in Wyoming.
Texas accounts for 10% of total manufacturing in the United States
Texas is home to nearly 1 million women-owned businesses.
Texas has enough crude oil reserves to fill more than 1 million Olympic swimming pools