Buffalo, Ny

District 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.

Comparison in Time

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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.

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Yearly Exports

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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).

Exports Dynamics

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Fastest Growing Exports Destination (Jan 2020 - Jan 2021)

Rapidly Declining Export Origins (Jan 2020 - Jan 2021)

Yearly Imports

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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).

Imports Dynamics

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Fastest Growing Import Origins (Jan 2020 - Jan 2021)

Rapidly Declining Import Origins (Jan 2020 - Jan 2021)

Economic Complexity

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Economic Complexity of United States

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Buffalo, Ny ranks 24th out of the 43 districts in United States according to ECI.

Estimated using exports data.

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Export Opportunities by Relatedness

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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).

Most Complex Products by PCI

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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.

Most Specialized Products by RCA Index

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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.

Relatedness Space

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This network shows the products most related to the production structure of  Buffalo, Ny. These are products that tend to be co-exported with the products that Buffalo, Ny exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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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.