Texas is one of the most important states in the United States. The state has one of the biggest economies in the country and the world, partly due to the shipping industry. The trade industry generates more than $242 billion every year. As a curious fact, if Texas were a sovereign state, it would have the 10th largest economy in the world.
Some factors contributing to Texas’s economy are its immense population, natural resources, thriving cities, and leading higher education centers. Another contributing factor was that when oil was discovered, it made the state’s economy a leader in the petroleum industry.