Skip to main content

Report: Houston's Strong International Ties Better Position Regional Economy for Global Economic Headwinds

Published May 12, 2023 by Brina Morales

Global Houston 2023 cover page

HOUSTON — Houston’s trade ties with its global partners have largely recovered from the impacts of the pandemic, according to the Greater Houston Partnership’s latest Global Houston report

The analysis documents how Houston’s international activity in 2022 continued to set records:

  • The Houston-Galveston Customs District continues to rank first in the country in tonnage handled (exports and imports) with over 382.8 million metric tons.
  • For the first time in history, the Houston-Galveston Customs District ranked first in total value with $372.6 billion, which typically ranks second behind Los Angeles/Long Beach.
  • Exports topped $191.8 billion, well above the previous record of $140.8 billion set in 2021.
  • Foreign direct investment (FDI) is back at pre-pandemic levels and continues accelerating. The Partnership documented 44 business expansions from companies headquartered overseas in 2022, up from 33 in 2021. In 2020, only 13 non-U.S. firms announced plans to expand or relocate operations in the region.
  • International migration surged to 47,400, accounting for the largest share (38%) of the region’s population growth in 2022.
  • International air traffic continues to edge closer to pre-pandemic levels. The Houston Airport System handled 10.4 million international passengers in 2022, up from 7.3 million in 2021 but still below the pre-COVID peak of 12.0 million in 2020. 
  • The Port of Houston set a record for container traffic, handing nearly 3.2 million loaded TEUs (twenty-foot-equivalent units), a 17.9% increase over 2021.

“The international metrics demonstrate Houston’s ties global economy continues to strengthen, positioning the region for continued growth despite global economic headwinds,” Partnership Chief Economist and Senior Vice President of Research Patrick Jankowski said.

According to the report, the ongoing war in Ukraine, persistent inflation, and rising interest rates are key factors that continue to be speedbumps to growth but are not considered outright obstacles.

“Any slowdown caused by macro forces will likely impact Houston only marginally,” Jankowski said. “Houston’s economy will continue to expand, create jobs, and attract new residents to the region.”
 
Other data included in the report reflects Houston’s influence as a global business hub: 

  • Houston has trading relationships with more than 200 countries.
  • The value of exports via the district has exceeded imports every year since 2013.
  • Over 1,700 foreign-owned firms have an office, factory, distribution, or service center in Houston. 
  • Nearly 150 Houston-headquartered companies operated subsidiaries outside the U.S. 

Another section of the Global Houston report provides additional statistics and information about Houston’s international business ties and ranks the region’s top 20 trade partners. The value of goods and services traded increased among all leading partners in 2022, continuing the trend of growth.

Top 10 Houston trade partners and the value of trade in 2022: 

  1. Mexico -- $32.1 billion, up from $21.6 billion in 2021.
  2. China -- $31.9 billion, up from $24.8 billion in 2021. 
  3. South Korea -- $24.6 billion, up from $16.2 billion in 2021. 
  4. Brazil -- $20.1 billion, up from $16.8 billion in 2021. 
  5. Netherlands -- $19.1 billion, up from $13.4 billion in 2021. 
  6. United Kingdom -- $16.4 billion, up from $9.9 billion in 2021.
  7. India -- $15.7 billion, up from $13.9 billion in 2021.
  8. Germany -- $15.0 billion, up from $12.0 billion in 2021.
  9. Japan -- $14.4 billion, up from $11.5 billion in 2021.
  10. Singapore -- $13.6 billion, up from $5.9 billion in 2021.

View the trade profiles report here

###

Greater Houston Partnership 
The Greater Houston Partnership works to make Houston one of the best places to live, work and build a business. As the economic development organization for the region, the Partnership champions growth across 12 counties by bringing together business and civic-minded leaders who are dedicated to the area’s long-term success. Representing more than 950 member organizations and approximately one-fifth of the region’s workforce, the Partnership is the place companies come together to make an impact. Learn more at Houston.org.

 

CONTACT:          

Brina Morales                                                
Director, Communications     
bmorales@houston.org      
(c) 832-287-5089             

Related News

Economic Development

Texas Lawmakers Prioritize Economic Growth with New Committees

1/30/25
Every Texas legislative session brings something new: bold policies, fresh faces on the chamber floor, or, in this case, a new focus on making the Texas economy bigger and better. This year, the Texas House and Senate have restructured their standing committees, creating stand-alone panels to emphasize economic development and other key drivers of the state’s economy. In the Texas Senate, returning Senator Phil King will chair the newly formed Committee on Economic Development. Previously, the committee was a policy-combination focusing on Natural Resources and Economic Development. King, who previously served as Vice-Chair for the Senate Committee on Business & Commerce, said he is excited to take on the leadership position in the upper chamber. “I am honored that Lt. Gov. Patrick has entrusted me to lead the Economic Development Committee in Texas, which has the eighth largest economy in the world,” Senator King said in a statement to the Partnership. “We will use this session to discuss policy solutions that can continue to drive our state's economic growth and prosperity over the next two years and beyond. I look forward to hearing from business leaders and local officials from across the state on how we can build upon the Texas Miracle in their communities.” The Texas House created the Committee on Trade, Workforce, and Economic Development. Under first-term Speaker Dustin Burrows, the House will have a committee focused on the workforce and expanding the talent pipeline for the first time. Committee assignments for the Texas House have yet to be released.  Burrows told the Partnership he is committed to seeing Texas build a bigger and better economic engine for future generations.  "The Texas House remains focused on delivering legislative solutions that will strengthen our state's mighty economy and provide more economic opportunities for hardworking Texans," said Speaker Dustin Burrows. "This session, the House's new Committee on Trade, Workforce, and Economic Development will take a comprehensive approach to ensuring businesses have the freedom and tools to thrive in our state, with a newly created subcommittee concentrating on policies to bolster the Texas workforce. The House will also prioritize support for small businesses through legislation that aims to unleash the power of Texas entrepreneurship in communities across the state by cutting taxes and reforming the regulatory process." It’s too soon to say which bills will go to these committees. For now, a review of the interim reports from the previous committees points to support of key policy priorities for the Partnership: Early Childhood Education: the House and Senate both recognized a statewide need for expanding programs that support families and young children in education/developmental programs The successful implementation of the Lone Star Workforce of the Future Fund [HB 1755 - 89(R)] is compelling lawmakers to invest further in innovation and growth for apprenticeship and training programs. Expanding the available workforce talent pool will remain a priority for the 89th Texas Legislature. Click below to read the full interim reports from the following committees: Senate Committee on Natural Resources and Economic Development House Committee on International Relations and Economic Development To learn more about the Partnership's Legislative Priorities, click here. For more updates and alerts on the Texas Legislature, click here to sign up for our weekly newsletter.
Read More
Economy

Greater Houston Partnership Forecasts Over 71,000 Jobs in Metro Houston for 2025

12/12/24
HOUSTON (Dec. 12, 2024) — The Greater Houston Partnership has released its forecast for job growth in the Metro Houston area, forecasting the creation of 71,200 jobs in 2025.  The sectors expected to experience the greatest gains, in order, are:  Health care Construction Professional and technical services Government Restaurants and bars Click to expand Houston is projected to finish 2025 with over 3.5 million payroll jobs, setting a record for the region. Several factors support this growth, including the ongoing expansion of the U.S. economy, the continued decline in interest rates, increasing consumer confidence, and a steady influx of domestic and foreign companies establishing operations in Houston.  Additionally, a deep backlog of construction projects and local income and population growth contribute to the positive outlook for job creation. “Over the past two decades, Houston has experienced several recessions, devastating weather events and the COVID-19 pandemic, but despite these events, the Houston region’s economy has remained competitive,” Partnership Chief Economist Patrick Jankowski said. “Houston’s GDP has grown 70 percent after adjusting for inflation, and that growth is proof that our resilient economy will encourage continued growth for years to come.” According to the forecast, every sector except information is expected to experience job growth next year. The information sector has struggled for years, losing jobs in 12 out of the last 20 years, largely due to technological advancements and shifting consumer preferences.  The Houston region created 60,000 jobs in the 12 months ending October 2024. The region should end the year with 58,000 jobs. The national outlook is also looking positive. The probability of a recession over the next 12 months sits at 26 percent, according to The Wall Street Journal’s October survey of prominent business economists.  A sector-by-sector breakdown of the jobs forecast and the factors impacting each industry can be found in the full report. ### Media Contact    Brina Morales                                                 Director, Communications     bmorales@houston.org      
Read More

Related Events

Economic Development Event

State of Houston's Global Economy

The Greater Houston Partnership invites you to join us on May 1, 2025, for the State of Houston's Global Economy.   Join us to celebrate Houston's dynamic global connections and their…

Learn More
Learn More
Executive Partners