Texas is one of the most important states for the US economy — The Economist.

Texas is one of the most important states for the US economy — The Economist.

Texas contributes 9% of the country's total GDP. It is the center of American oil production. In terms of oil production, Texas ranks third in the world after Russia and Saudi Arabia.

If Texas were a separate country, with a GDP of $1.8 trillion, it would be the 12th economy in the world, overtaking South Korea, Brazil, Australia, and Spain.

GDP per capita is $78,000. In China, it is $12,000. In South Korea, it is $34,000. In Germany, it is $51,000.