Frost Bank is running ads saying “Texas is the 10th Largest Economy In The World. We’re Its Bank.” Nice. But it struck me as a big claim, so I decided to check it out. All the sources I can find agree that Texas’ GDP is $1.08 trillion, putting it #2 among states behind California’s (New York is #7. Why? Because it doesn’t produce anything.) However, using 2007 figures, it looks like Texas ranks as #13 among countries, just below India, according to the World Bank. That’s still very good. Maybe the world financial crisis will push us into the top ten, although with oil and gas prices plummeting, maybe not.
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