Austin's economy among most international in nation, study shows
Oct 23, 2013
Austin Business Journal
Austin has one of the most international economies among the nation's cities, according to a study by the Brookings Institution based on 2010 figures
The Austin-Round Rock-San Marcos area's economy had the ninth highest percentage of international trade among cities nationwide, at 22.3 percent
Austin also generates the ninth most patents per capita of any U.S. metropolitan area, the report said
The large amount of international trade stems in part from Austin role as a high-value goods producer and major electronics center. Of the $93.5 billion in total goods trade involving Austin in 2010, $46.3 billion was in electronics. The average good in Austin trades for $1,990 per ton. San Jose, which leads the nation in international percentage has an average good per ton price of $3,000
The report also described Austin as a specialized trader with an impressive amount of electronics know-how, but "below-average shares in other high-value commodities such as textiles, transportation equipment, and machinery/tools. Not only do major firms such as Dell help Austin move large volumes of electronic goods, but they also drive Austin's innovation-rich economy."