<Tr> <Th> Expenses </Th> <Td> $71.4094 billion </Td> </Tr> <P> The economy of Texas is the second largest in the United States . It has a gross state product of $1.616 trillion (2016), the second largest in the U.S . As of 2015, Texas is home to six of the top 50 companies on the Fortune 500 list and 51 overall (third most after New York and California). In 2012, Texas grossed more than $264.7 billion a year in exports--more than exports of California ($161.9 billion) and New York ($81.4 billion) combined . </P> <P> As a sovereign country (2016), Texas would be the 10th largest economy in the world by GDP (ahead of South Korea and Canada). Texas's household income was $48,259 in 2010 ranking 25th in the nation . The state debt in 2012 was calculated to be $121.7 billion, or $7,400 per taxpayer . Texas has the second largest population in the country after California . </P> <Table> <Tr> <Td> </Td> <Td> This section needs additional citations for verification . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . (March 2012) (Learn how and when to remove this template message) </Td> </Tr> </Table>

Where does texas economy rank in the world