Buffalo, NyDistrict in New York, State of United States
2019 Economic Complexity: 0.28, Rank 24 of 39
Jan 2021 Trade Exports | Imports: $3B | $2.93B, 14 of 43 | 20 of 42
Jan 2021 Country Destination | Origin: Canada | Canada , $2.65B | $2.59B
Jan 2021 Product Exports | Imports: Delivery Trucks | Cars , $180M | $454M
Overview: This page contains the latest international trade data for Buffalo, NY, including export and import data.
Exports: In 2020, United States' Buffalo, Ny exported $36.7B, making it the 14th largest exporter out of the 43 exporters in United States. In 2020 the top exports of Buffalo, Ny were Spark ignition engine trucks weighing <... ($1.52B), Medium Sized Cars ($805M), Medicaments nes, in dosage ($645M), Diesel powered trucks weighing 5-20 tonnes ($640M), and Aircraft parts nes ($434M).
Imports: In 2020, United States' Buffalo, Ny imported $34.5B, making it the 19th largest importer out of the 43 importers in United States. In 2020 top imports of Buffalo, Ny were Medium Sized Cars ($2.22B), Large Sized Cars ($1.73B), Small Sized Cars ($1.69B), Commodities not specified according to kind ($1.68B), and Medicaments nes, in dosage ($751M).
Economic Complexity: In 2019, the highest complexity exports of Buffalo, Ny according to the product complexity index (PCI) are Metal Lathes (1.88), Silicone (1.83), Iron Fasteners (1.81), Non-Mechanical Removal Machinery (1.78), and Rubberworking Machinery (1.72). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Overview: In January 2021 Buffalo, NY exported $3B and imported $2.93B, resulting in a positive trade balance of $70.8M. Between January 2020 and January 2021 the exports of Buffalo, NY have decreased by $-98.9M (-3.2%) from $3.1B to $3B, while imports decreased by $-28.2M (-0.95%) from $2.95B to $2.93B.
Trade: In January 2021, the top exports of Buffalo, NY were Crude Petroleum ($4.06B), Refined Petroleum ($3.39B), Petroleum Gas ($2.86B), Commodities not elsewhere specified ($2.51B), and Soybeans ($2.1B). In January 2021 the top imports of Buffalo, NY were Computers ($3.02B), Cars ($2.77B), Cars ($2.56B), Telephones ($2.28B), and Cars ($1.82B).
Destinations: In January 2021, Buffalo, NY exported mostly to Canada ($2.65B), Germany ($83M), Netherlands ($37.7M), United Kingdom ($32.1M), and Belgium ($31.6M), and imported mostly from Canada ($2.59B), China ($104M), Germany ($30.9M), United Kingdom ($28.4M), and Italy ($17.4M).
Growth: In January 2021, the decrease in Buffalo, NY's year-by-year exports was explained primarily by an decrease in exports to Canada ($-604M or -22.6%), Netherlands ($-456M or -44.1%), and Mexico ($-453M or -5.04%), and product exports decrease in Crude Petroleum ($-1.53B or -27.3%), Refined Petroleum ($-882M or -53.2%), and Refined Petroleum ($-668M or -16.5%). In January 2021, the decrease in Buffalo, NY's year-by-year imports was explained primarily by an decrease in imports from Ireland ($-641M or -63.5%), Ireland ($-631M or -76.8%), and Mexico ($-502M or -5.79%), and product imports decrease in Crude Petroleum ($-995M or -52.5%), Nucleic Acids ($-936M or -83.4%), and Crude Petroleum ($-748M or -34.7%).
EXPORT GROWTH (January 2020 - January 2021): $-98.9M, (-3.2%)
IMPORT GROWTH (January 2020 - January 2021): $-28.2M, (-0.95%)
This section shows exports and imports data at subnational level for Buffalo, NY. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Buffalo, NY over time.
This section shows the differences between Buffalo, NY's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit United States's country profile.
Top Destination (2020): Canada, $33B
Top Product (2020): Spark ignition engine trucks weighing <..., $1.52B
In 2020 the top export destinations of Buffalo, Ny were Canada ($33B), Germany ($774M), Belgium ($419M), Netherlands ($354M), and United Kingdom ($344M).
In 2020 the top exports of Buffalo, Ny were Spark ignition engine trucks weighing <... ($1.52B), Medium Sized Cars ($805M), Medicaments nes, in dosage ($645M), Diesel powered trucks weighing 5-20 tonnes ($640M), and Aircraft parts nes ($434M).
Fastest Growing Exports Destination (Jan 2020 - Jan 2021)
Top Origin (2020): Canada, $29.9B
Top Import (2020): Medium Sized Cars, $2.22B
In 2020 the top import origins of Buffalo, Ny were Canada ($29.9B), China ($1.42B), Germany ($358M), Switzerland ($325M), and Italy ($297M).
In 2020 the top imports of Buffalo, Ny were Medium Sized Cars ($2.22B), Large Sized Cars ($1.73B), Small Sized Cars ($1.69B), Commodities not specified according to kind ($1.68B), and Medicaments nes, in dosage ($751M).
Fastest Growing Import Origins (Jan 2020 - Jan 2021)
Rapidly Declining Import Origins (Jan 2020 - Jan 2021)
Buffalo, Ny ranks 24th out of the 43 districts in United States according to ECI.
Estimated using exports data.
The top export opportunities according to the relatedness level, without considering those products were Buffalo, Ny already has a comparative advantage, are led by Orthopedic Appliances (0.5), Nuclear Reactors (0.49), Newsprint (0.49), Reaction and Catalytic Products (0.49), and Non-optical Microscopes (0.49).
The highest complexity exports of Buffalo, Ny according to the product complexity index (PCI) are Metal Lathes (1.88), Silicone (1.83), Iron Fasteners (1.81), Non-Mechanical Removal Machinery (1.78), and Rubberworking Machinery (1.72). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The most specialized products according to the RCA index are led by Tar (29), Scrap Nickel (28.4), Micro-Organism Culture Preparations (19.8), Corrugated Paper (18.9), and Railway Freight Cars (16.8).
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since Buffalo, Ny is more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a territory's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
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