New Jersey

State in United States

Exports (2019): $35.8B, Rnk 14/53

Top Destination (2019): $7.18B, Canada

Top Export (2019): $1.32B, Palladium unwrought or in powder form

Imports (2019): $125B, Rnk 6/53

Top Origin (2019): $16.8B, China

Top Import (2019): $10.9B, Medicaments nes, in dosage

Economic Complexity (2019): 0.27, Rnk 27 / 53

Exports: In 2019, United States' New Jersey exported $35.8B, making it the 14th largest exporter out of the 53 exporters in United States. In 2019 the top exports of New Jersey were Palladium unwrought or in powder form ($1.32B), Light petroleum distillates nes ($1.16B), Aircraft parts nes ($1.12B), Medium Sized Cars ($986M), and Waste and scrap of precious metals:... ($960M).

Imports: In 2019, United States' New Jersey imported $125B, making it the 6th largest importer out of the 53 importers in United States. In 2019 top imports of New Jersey were Medicaments nes, in dosage ($10.9B), Petroleum spirit for motor vehicles ($9.78B), Petroleum oils, oils from bituminous minerals,... ($6.88B), Light petroleum distillates nes ($3.62B), and Blood, human or animal, antisera, other... ($3.17B).

Economic Complexity: In 2019, the highest complexity exports of New Jersey according to the product complexity index (PCI) are Cermets (2.2), Photographic Chemicals (2.17), Metal Lathes (1.86), Silicone (1.81), and Chemical Analysis Instruments (1.78). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Value
Depth
Year

Top Destination (2019): Canada, $7.18B

Top Product (2019): Palladium unwrought or in powder form, $1.32B

In 2019 the top export destinations of New Jersey were Canada ($7.18B), Mexico ($2.89B), United Kingdom ($2.54B), China ($1.85B), and Germany ($1.6B).

In 2019 the top exports of New Jersey were Palladium unwrought or in powder form ($1.32B), Light petroleum distillates nes ($1.16B), Aircraft parts nes ($1.12B), Medium Sized Cars ($986M), and Waste and scrap of precious metals:... ($960M).

Export Dynamics

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Fastest Growing Exports Destination (May 2019 - May 2020)

Rapidly Declining Export Origins (May 2019 - May 2020)

Value
Depth
Year

Top Origin (2019): China, $16.8B

Top Import (2019): Medicaments nes, in dosage, $10.9B

In 2019 the top import origins of New Jersey were China ($16.8B), Canada ($8.58B), Germany ($8.56B), India ($8.08B), and Italy ($7.31B).

In 2019 the top imports of New Jersey were Medicaments nes, in dosage ($10.9B), Petroleum spirit for motor vehicles ($9.78B), Petroleum oils, oils from bituminous minerals,... ($6.88B), Light petroleum distillates nes ($3.62B), and Blood, human or animal, antisera, other... ($3.17B).

Import Dynamics

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Fastest Growing Import Origins (May 2019 - May 2020)

Rapidly Declining Import Origins (May 2019 - May 2020)

Comparison in Time

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Flow
Value

This section shows differences between total trade from New Jersey throughout time.

Comparison Map

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Start
End

The states and territories of United States with the highest exports in 2019 were Texas ($330B), California ($173B), New York ($73B), Louisiana ($63.5B), and Washington ($60B)

The states and territories of United States with the highest imports in 2019 were California ($408B), Texas ($294B), Illinois ($164B), Michigan ($142B), and New York ($131B)

This section shows forecasts for total exports and imports from New Jersey. The forecast is based in a Long Short-Term Memory Model constructed using monthly trade data.

Explore Forecasts

Economic Complexity

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Economic Complexity of United States

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New Jersey ranks 27th out of the 53 states and territories in United States according to ECI.

Estimated using exports data.

Export Opportunities by Relatedness

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The top export opportunities according to the relatedness level, without considering those products were New Jersey already has a comparative advantage, are led by X-Ray Equipment (0.37), Photographic Paper (0.37), Photographic Film (0.35), Nitrogen Heterocyclic Compounds (0.35), and Non-optical Microscopes (0.35).

Most Complex Products by PCI

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The highest complexity exports of New Jersey according to the product complexity index (PCI) are Cermets (2.2), Photographic Chemicals (2.17), Metal Lathes (1.86), Silicone (1.81), and Chemical Analysis Instruments (1.78). 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 Platinum (43.8), Precious Metal Scraps (34.9), Precious Metal Compounds (19.5), Sorghum (19.1), and Antiques (14.8).

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 New Jersey 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  New Jersey. These are products that tend to be co-exported with the products that New Jersey 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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Depth
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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.