New Jersey

Overview In January 2024 New Jersey exported $3.35B and imported $12B, resulting in a negative trade balance of $8.69B. Between January 2023 and January 2024 the exports of New Jersey have decreased by $-131M (-3.76%) from $3.48B to $3.35B, while imports increased by $250M (2.13%) from $11.8B to $12B.

Trade In January 2024, the top exports of New Jersey were Platinum ($352M), Jewellery ($143M), Vaccines, blood, antisera, toxins and cultures ($120M), Medical Instruments ($105M), and Cars ($102M). In January 2024 the top imports of New Jersey were Cars ($1.04B), Refined Petroleum ($870M), Crude Petroleum ($825M), Packaged Medicaments ($789M), and Orthopedic Appliances ($230M).

Destinations In January 2024, New Jersey exported mostly to Canada ($671M), Mexico ($307M), Japan ($238M), Germany ($188M), and China ($179M), and imported mostly from China ($1.23B), Canada ($804M), Italy ($795M), United Kingdom ($753M), and India ($629M).

Growth In January 2024, the decrease in New Jersey's year-by-year exports was explained primarily by an decrease in exports to United Kingdom ($-110M or -44.4%), China ($-81.7M or -34.2%), and Japan ($-36.5M or -14.7%), and product exports decrease in Precious Metal Scraps ($-113M or -65.7%), Paintings ($-38.5M or -90.8%), and Scrap Iron ($-28.6M or -27.4%). In January 2024, the increase in New Jersey's year-by-year imports was explained primarily by an increase in imports from Japan ($325M or 157%), India ($239M or 31.9%), and Nigeria ($161M or 300%), and product imports increase in Refined Petroleum ($587M or 87.1%), Platinum ($359M or 262%), and Cars ($193M or 27.5%).