FORMER TEXAS CONGRESSMAN Beto O’Rourke has announced that he is dropping out of the race for the Democratic 2020 US presidential nomination.

His withdrawal follows months of stagnant polling numbers and dwindling finances.

In an online post, he said: “My service to the country will not be as a candidate or as the nominee.” He was scheduled to address supporters at an event in Iowa later today.

“Though it is difficult to accept, it is clear to me now that this campaign does not have the means to move forward successfully,” he added.

“My service to the country will not be as a candidate or as the nominee.”

The 47-year-old was urged to run for president by many Democrats who were energised by his narrow Senate loss last year in Texas, a reliably Republican state.

On that occasion he raised a significant amount of money from small donors across the country, visited every county in Texas and used social media and livestreaming to engage directly with voters, but ultimately lost to incumbent Republican Senator Ted Cruz.

This time out, O’Rourke entered the contest with considerable buzz, but failed to ignite the enthusiasm that had propelled his statewide race last year.

- © AFP 2019 with reporting from Associated Press.