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US State economic profile
Texas - Economic Profile
Statistics, economic information and rankings for the Lone Star State
In 2026, the state of Texas has a population of 32,407,350, having grown an annualized 1.8% over the five years to 2026, which ranks it 2nd out of all 50 US states by growth rate. Texas' gross state product (GSP) in 2026 reached $2.3tn, with growth of 4.1% over the 5 years to 2026. Businesses in Texas employed a total of 13,730,292 people in 2026, with average annual employment growth over the past five years of 2.7%. The top three sectors by total employment are Real Estate & Rental & Leasing, Manufacturing, Professional, Scientific & Technical Services, while the unemployment rate across the state in 2026 was 4.4%.
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State economic profile
Texas Economic Overview
$2.3tn
Gross state product
32,407,350
Population
2,761,223
Businesses
What is Texas' Gross Domestic Product (GDP)?
In 2026, Texas' GDP reached $2.3tn, representing an increase of 4.1% from 2025. Texas' GDP has grown at an annualized rate of 3.2% over the five years to 2026. Moreover, Texas' trailing five-year GDP growth ranks it 1st out of all 50 US states.
State GDP, or Gross State Product, is a measurement of a state's output, or the sum of value added from all industries in the state. It is a common indicator used to track the health of a state's economy.
You can track trends in Texas' GDP, and compare them to the national average, using the chart below.
State economic profile
Texas Industry Trends
Learn about current trends affecting the most significant industries for Texas' state economy, down to the county level. IBISWorld offers state industry research reports on over 30,000 industries across all 50 states in the US, including 642 industries in Texas.
What are Texas' Largest Industries by Revenue?
The largest industries by revenue in Texas are Gasoline & Petroleum Bulk Stations, Gasoline & Petroleum Wholesaling and Petroleum Refining, which generated $356.8b, $340.5b and $207.3b in 2026.
| Industry | 2026 revenue | |
|---|---|---|
| 1. | Gasoline & Petroleum Bulk Stations | $356.8b |
| 2. | Gasoline & Petroleum Wholesaling | $340.5b |
| 3. | Petroleum Refining | $207.3b |
| 4. | Oil Drilling & Gas Extraction | $200.1b |
| 5. | Electronic Part & Equipment Wholesaling | $144.0b |
| 6. | New Car Dealers | $131.4b |
| 7. | Commercial Banking | $124.3b |
| 8. | Hospitals | $104.7b |
| 9. | Drug, Cosmetic & Toiletry Wholesaling | $96.8b |
| 10. | Automobile Wholesaling | $96.5b |
State economic profile
Top Companies in Texas
Learn about current trends affecting the top companies in Texas. IBISWorld offers benchmarking data and tools on over 5,000 companies in the US.
Top 10 Companies Headquartered in Texas by Employment
The largest companies by employment in Texas are Walmart, The University of Texas System and Amazon.Com, which employed 175,432, 104,000 and 89,000 people in 2026.
| Company | 2026 employment | Share of employment | |
|---|---|---|---|
| 1. | Walmart | 175,432 | 1.3% |
| 2. | The University of Texas System | 104,000 | 0.8% |
| 3. | Amazon.Com | 89,000 | 0.6% |
| 4. | Home Depot | 39,648 | 0.3% |
| 5. | Target | 38,897 | 0.3% |
| 6. | United States Postal Service | 37,280 | 0.3% |
| 7. | Kroger | 30,169 | 0.2% |
| 8. | Texas Health Resources | 28,000 | 0.2% |
| 9. | The Texas A&M University System | 26,000 | 0.2% |
| 10. | Lowes Companies | 24,567 | 0.2% |
State economic profile
Texas Sector Statistics
In Texas, certain sectors drive a higher share of state GDP and employ more workers than others. However, simply looking at raw numbers doesn't always tell the whole story. Factoring in the current year growth percentage, in addition to the annualized growth percentage over the past five years, will give you a deeper understanding of the economic situation.
What is Texas' GDP by Sector?
The Real Estate & Rental & Leasing, Manufacturing and Professional, Scientific & Technical Services sectors contributed the most to Texas' GDP in 2026, representing a combined 38.3% of state GDP.
GDP trends by sector are an important indicator of which sectors are contributing the most value-add to the state economy, in addition to how the state economy is evolving over time.
| Sector | GDP | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Real Estate & Rental & Leasing | 329,570,345,099 | 6.3% | 6.6% |
| Manufacturing | 260,103,965,157 | 4.5% | 4.5% |
| Professional, Scientific & Technical Services | 239,766,443,764 | 8.8% | 9.4% |
| Mining | 168,011,592,674 | 9.6% | 5.2% |
| Wholesale Trade | 151,216,278,568 | 1.5% | 2.0% |
| Healthcare & Social Assistance | 150,644,394,849 | 5.6% | 5.9% |
| Retail Trade | 140,174,426,794 | 5.7% | 5.3% |
| Information | 123,453,202,881 | 6.4% | 6.5% |
| Finance & Insurance | 114,841,348,475 | 1.7% | 1.1% |
| Administration, Business Support and Waste Management Services | 83,073,146,069 | 4.0% | 4.0% |
| Construction | 81,908,920,556 | -1.3% | -1.6% |
| Transportation & Warehousing | 77,868,502,511 | 3.0% | 2.9% |
| Management of Companies and Enterprises | 59,751,281,217 | 11.8% | 13.3% |
| Accommodation & Food Services | 58,590,085,423 | 4.0% | 4.0% |
| Utilities | 46,922,742,380 | 9.9% | 11.1% |
| Other Services (except Public Administration) | 33,578,862,364 | -1.0% | -0.5% |
| Arts, Entertainment & Recreation | 17,837,485,884 | 9.8% | 11.9% |
| Educational Services | 16,739,446,889 | 3.6% | 4.1% |
| Agriculture, Forestry, Fishing & Hunting | 13,146,662,010 | 3.3% | 5.7% |
What is Texas' Employment by Sector?
The Healthcare & Social Assistance, Retail Trade and Accommodation & Food Services sectors contributed the most to employment in Texas in 2026, representing a combined 34.7% of state employment.
Employment trends by sector are an important indicator of which sectors are growing or contracting most rapidly relative to the state economy as a whole.
| Sector | Employment | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Healthcare & Social Assistance | 2,010,970 | 2.3% | 3.1% |
| Retail Trade | 1,779,472 | 1.5% | 2.4% |
| Accommodation & Food Services | 1,314,414 | 0.9% | 4.1% |
| Administration, Business Support and Waste Management Services | 1,290,934 | 1.7% | 1.5% |
| Professional, Scientific & Technical Services | 1,251,269 | 2.1% | 2.6% |
| Construction | 1,058,097 | 2.1% | 2.4% |
| Transportation & Warehousing | 955,740 | 3.6% | 4.2% |
| Manufacturing | 847,884 | 0.7% | 1.7% |
| Educational Services | 818,896 | 0.4% | 1.6% |
| Finance & Insurance | 755,696 | 1.1% | 1.4% |
| Other Services (except Public Administration) | 605,812 | 1.4% | 3.2% |
| Wholesale Trade | 554,306 | 0.9% | 1.5% |
| Real Estate & Rental & Leasing | 508,136 | 1.5% | 2.0% |
| Information | 424,300 | 3.4% | 5.0% |
| Arts, Entertainment & Recreation | 222,112 | 1.5% | 5.5% |
| Mining | 205,793 | -2.5% | 1.8% |
| Utilities | 94,352 | 1.3% | 0.8% |
| Agriculture, Forestry, Fishing & Hunting | 21,385 | 1.0% | 0.0% |
State economic profile
Texas Employment Trends
13.7m
Employment
4.2%
Unemployment
What Employment Trends are Impacting Texas?
The state of Texas employs 13,730,292 people in 2026, which ranks it 2nd out of all 50 US states. Employment in Texas has grown at an annualized rate of 1.1% over the five years to 2026, underperforming the national average of 1.2%. Major sectors by employment in Texas include Healthcare & Social Assistance, Retail Trade and Accommodation & Food Services, which employed 2,010,970, 1,779,472 and 1,314,414 people in 2026, respectively. Texas' unemployment rate is 4.2% in 2026, which ranks it 36th out of all 50 US states. Texas' unemployment rate has trended upwards at a rate of 3.6% over the five years to 2026, overperforming the US economy as a whole.
Employment trends indicate the degree of tightness or slack in labor markets, in addition to the overall strength of an economy. Faster employment growth typically indicates a strong and growing economy, while lower unemployment tends to imply tightness in labor markets.
You can track unemployment trends in Texas, and compare them to the US economy, using the chart below.
$178.6k
Per capita disposable income
What is Texas' Per Capita Disposable Income?
Per capita disposable income, also known as disposable personal income (DPI), is the amount of money that the average person in an economy has available for spending and saving after accounting for income taxes. Texas' DPI in 2026 was $178.6k, compared to the US average of $128.6k, which places it 9th out of all 50 US states.
Disposable income is regarded as a key economic indicator as trends in disposable income are indicative of the level of aggregate demand, the state of labor markets and the financial strength of households.
You can track trends in Texas' per capita disposable income, and compare it to the US average, using the chart below.
State economic profile
Texas Construction & Building Trends
$76,463.1tn
Nonresidential construction
$48.7tn
Residential construction
211,001
Building permits
What can construction trends tell you about a state’s economy?
In Texas, non-residential construction was $76,463.1tn in 2026, which ranks it 40th out of all 50 US states. Residential construction was $48.7tn in 2026, which places Texas 31st out of all 50 US states. The number of building permits issued in Texas in 2026 was 211,001, representing a 1.0% annualized growth rate between 2021 and 2026.
Trends in the construction sector are important because it creates jobs, income and tax revenue for a state. In addition, construction sector activity impacts other sectors in its supply chain, including manufacturing, wholesaling, warehousing, transportation, and real estate, rental and leasing services. Therefore, construction trends are important indicators of the health of an economy.
You can track trends in the number of building permits issued in Texas, and compare it to trends in the number issued in the United States as a whole, using the chart below.
State economic profile
Texas Population Statistics
Which Counties in Texas have the Largest Populations?
The counties with the highest populations in Texas are Harris County, Dallas County and Tarrant County, which had populations of 4,962,199, 2,615,049 and 2,257,496 people in 2026.
| Region | 2026 population | Annual growth 2021-26 | Share of population |
|---|---|---|---|
| Harris | 5.0m | 0.9% | 15.3% |
| Dallas | 2.6m | 0.1% | 8.1% |
| Tarrant | 2.3m | 1.1% | 7.0% |
| Bexar | 2.2m | 1.2% | 6.7% |
| Travis | 1.4m | 0.9% | 4.2% |
| Collin | 1.3m | 3.4% | 4.1% |
| Denton | 1.1m | 3.2% | 3.4% |
| Fort Bend | 1.0m | 3.2% | 3.1% |
| Hidalgo | 925.8k | 1.0% | 2.9% |
| El Paso | 875.6k | 0.2% | 2.7% |
| Montgomery | 806.4k | 4.2% | 2.5% |
| Williamson | 783.2k | 3.9% | 2.4% |
| Cameron | 432.0k | 0.4% | 1.3% |
| Brazoria | 427.3k | 2.3% | 1.3% |
| Bell | 413.4k | 1.7% | 1.3% |
| Galveston | 372.8k | 1.0% | 1.1% |
| Nueces | 352.0k | N/A | 1.1% |
| Lubbock | 330.4k | 1.0% | 1.0% |
| Hays | 319.7k | 4.4% | 1.0% |
| Mclennan | 276.1k | 0.9% | 0.8% |
| Webb | 271.8k | 0.3% | 0.8% |
| Smith | 256.1k | 1.4% | 0.8% |
| Brazos | 254.7k | 1.3% | 0.8% |
| Ellis | 254.6k | 4.5% | 0.8% |
| Jefferson | 248.6k | -0.4% | 0.8% |
State economic profile
Texas Demographics
In Texas, 35.5% of the population has a Bachelors or higher. The largest ethnic group in Texas is Hispanic, accounting for 64.3% of the state's population.
Education level in Texas
| Education level | Share (%) |
|---|---|
| Bachelors or higher | 35.5 |
| Other | 64.5 |
Race in Texas
| Race | Share (%) |
|---|---|
| Hispanic | 64.3 |
| Black | 19.9 |
| Asian | 8.9 |
| White | 3.6 |
| Other | 3.4 |
Texas State industry reports
IBISWorld State Industry Reports help you quickly understand how an industry performs at the state level compared with the national level, with accurate and unbiased industry information with a local focus. Use this collection to:
- Discover key local industry trends
- Identify threats and opportunities at the subnational level
- Inform your business strategies and planning
See our list of 642 Texas industry reports.
Other states to explore
Compare Texas’s economy with other states in the United States.
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