Perryman Group publishes brief on economic benefits of Texas-Mexico trade

WACO, Texas – The Perryman Group estimates that trade between Texas and Mexico generates business activity across the United States of almost $1 trillion in gross domestic product annually and more than eight million jobs.

Much of the activity is concentrated in Texas.

“Trade between the United States and Mexico is crucial to both nations, and Texas has been the leading state for exports and imports between the two countries for decades,” the Perryman Group states, in its latest brief on the topic.

The Perryman Group comprises in-house professionals that bring expertise in economics, finance, statistics, mathematics, real estate, systems analysis, technical communications, and marketing. Dr. Ray Perryman, the president and CEO, has more than 40 years of experience in developing economic models.

The group has been analyzing US-Mexico trade for many years and has developed comprehensive systems to quantify the total economic benefits. In its latest brief, the Perryman Group says:

“Trade is beneficial to both countries, as comparative advantages with regard to costs, infrastructure, and workforce can be tapped to improve overall efficiencies, competitiveness, and growth. Consequently, prosperity both north and south of the border is enhanced.”

Photo credit: The Perryman Group

For Texas, the total benefits include an estimated $471.4 billion in gross product and over 3.6 million jobs (again based on 2023 trade levels), the brief states. Of the statewide total, the border region comprises $28.9 billion in gross product and more than 301,000 jobs. “About 25 percent of all activity in the vast Texas economy is thus tied to interactions with Mexico.”

The brief continues: “Mexico is now the top trading partner for the United States and has been perennially for Texas. By capitalizing on relative strengths, trade creates jobs and opportunities for both nations. The economic benefits are both enormous and expanding.”

Editor’s Note: Click here to read The Perryman Group brief.

The post Perryman Group publishes brief on economic benefits of Texas-Mexico trade appeared first on Rio Grande Guardian.