Overview: In January 2021 Norfolk-Newport News, VA exported $2.12B and imported $4.34B, resulting in a negative trade balance of $2.22B. Between January 2020 and January 2021 the exports of Norfolk-Newport News, VA have increased by $187M (9.68%) from $1.94B to $2.12B, while imports increased by $451M (11.6%) from $3.89B to $4.34B.
Trade: In January 2021, the top exports of Norfolk-Newport News, VA 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 Norfolk-Newport News, VA were Computers ($3.02B), Cars ($2.77B), Cars ($2.56B), Telephones ($2.28B), and Cars ($1.82B).
Destinations: In January 2021, Norfolk-Newport News, VA exported mostly to China ($261M), Belgium ($161M), United Kingdom ($104M), Germany ($93.8M), and Netherlands ($91.1M), and imported mostly from China ($844M), Germany ($622M), India ($352M), Italy ($313M), and Vietnam ($252M).
Growth: In January 2021, the increase in Norfolk-Newport News, VA's year-by-year exports was explained primarily by an increase in exports to China ($1.43B or 358%), China ($1.11B or 170%), and China ($656M or 116%), and product exports increase in Soybeans ($1B or 90.9%), Petroleum Gas ($936M or 48.6%), and Platinum ($742M or 188%). In January 2021, the increase in Norfolk-Newport News, VA's year-by-year imports was explained primarily by an increase in imports from China ($1.85B or 59%), China ($1.79B or 20.1%), and Switzerland ($851M or 229%), and product imports increase in Computers ($1.32B or 78.1%), Other Precious Metal Products ($851M or 2.19k%), and Computers ($792M or 126%).