Houston's global trade ties recover from pandemic
Houston led the country in exports in 2022 as its global trade ties continued to recover from the impacts of the pandemic.
Driving the news: Houston shipped more than $191.8 billion in goods and commodities abroad last year, according to the Greater Houston Partnership's annual Global Houston report, released Friday.
- New York ranked second with $120.6 billion in exports and Chicago third with $63.4 billion, according to the GHP's analysis of International Trade Administration data.
Why it matters: Houston's status as an international trade partner is a large driver of the city's economy, which rises and falls with the countries it conducts business with, per the Global Houston report.
Details: The top destinations for Houston's exports — which are primarily chemicals and oil and gas materials — are Brazil, Canada, China, Japan and Mexico.
Of note: Air travel and international air cargo are the two areas where Houston has yet to return to pre-COVID levels.
Houston's top three trading partners:
- Trade between Houston and Mexico fluctuated over the past decade, dropping to below $15 billion in 2016 and 2020 and increasing to $32.1 billion in 2022.
- Houston imported $9.9 billion in motor vehicle parts, coffee, tea, spices, vinegar, iron and steel from Mexico last year.
- Houston-China trade has more than doubled in the last decade, from $13.6 billion in 2013 to $31.9 billion in 2022.
- Houston's $20 billion in imports include a variety of items, like toys, furniture, plastic products and linens.
- Houston-South Korea trade has almost quadrupled over the past decade, from $6.2 billion in 2013 to $24.6 billion in 2022. It saw a 51% increase in the last year in part due to the jump in the export value of mineral fuel.
- Houston imports ship equipment and rubber and plastic products from South Korea.
More Houston stories
No stories could be found
Get a free daily digest of the most important news in your backyard with Axios Houston.