Economy of Texas
Houston, the largest city in Texas | |
| Statistics | |
|---|---|
| GDP | $2.769 trillion (2024) |
GDP per capita | $88,517 (2024) |
Population below poverty line | 14.0% (absolute) 11.3% (relative) |
| 0.4796 | |
Labor force | 15,226,787 (Apr. 2024) |
| Unemployment | 4.3% (Dec. 2025) |
| Public finances | |
| Revenues | $358 Billion (2025) |
| Expenses | $365.7 Billion (2025) |
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 companies of any state with 53 in total. As of 2023, Texas grossed more than $440 billion a year in exports, more than double the next highest state California ($178 billion).
Texas would be ranked as the 8th largest economy among nations of the world by nominal GDP, ahead of Canada, South Korea, Russia, and Australia.
In 2024, Texas had a median household income of $79,721. As of 2024 Texas 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 after California as of 2025.