ColoradoState in United States
2019 Economic Complexity: 0.31, Rank 26 of 53
Jan 2021 Trade Exports | Imports: $652M | $1.11B, 35 of 54 | 32 of 54
Jan 2021 Country Destination | Origin: Mexico | Canada , $113M | $299M
Jan 2021 Product Exports | Imports: Integrated Circuits | Crude Petroleum , $64.1M | $168M
Overview: This page contains the latest international trade data for Colorado, including export and import data.
Exports: In 2020, United States' Colorado exported $8.28B, making it the 34th largest exporter out of the 53 exporters in United States. In 2020 the top exports of Colorado were Bovine cuts boneless, fresh or chilled ($531M), Spacecraft: (including satellites) and suborbital and... ($509M), Electronic integrated circuits: n.e.c. in heading... ($453M), Instruments, appliances for medical, etc science,... ($313M), and Aircraft parts nes ($276M).
Imports: In 2020, United States' Colorado imported $12B, making it the 32nd largest importer out of the 53 importers in United States. In 2020 top imports of Colorado were Petroleum oils, oils from bituminous minerals,... ($1.58B), Electronic integrated circuits: n.e.c. in heading... ($527M), Instruments, appliances for medical, etc science,... ($335M), Communication apparatus (excluding telephone sets or... ($333M), and Fixed wing aircraft, unladen weight 2,000-15,000... ($332M).
Economic Complexity: In 2019, the highest complexity exports of Colorado according to the product complexity index (PCI) are Photographic Chemicals (2.16), Photographic Film (1.96), Other Measuring Instruments (1.86), Other Esters (1.85), and Iron Fasteners (1.81). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Overview: In January 2021 Colorado exported $652M and imported $1.11B, resulting in a negative trade balance of $455M. Between January 2020 and January 2021 the exports of Colorado have decreased by $-347M (-34.7%) from $999M to $652M, while imports increased by $38.1M (3.56%) from $1.07B to $1.11B.
Trade: In January 2021, the top exports of Colorado were Integrated Circuits ($64.1M), Bovine Meat ($51M), Frozen Bovine Meat ($27.7M), Medical Instruments ($26.3M), and Pig Meat ($25.1M). In January 2021 the top imports of Colorado were Crude Petroleum ($168M), Integrated Circuits ($120M), Planes, Helicopters, and/or Spacecraft ($50.4M), Computers ($44.6M), and Telephones ($38.2M).
Destinations: In January 2021, Colorado exported mostly to Mexico ($113M), Canada ($108M), China ($50.3M), Malaysia ($45.7M), and South Korea ($42.4M), and imported mostly from Canada ($299M), China ($141M), Mexico ($110M), Taiwan ($75.8M), and Switzerland ($52.8M).
Growth: In January 2021, the decrease in Colorado's year-by-year exports was explained primarily by an decrease in exports to Netherlands ($-12.3M or -54.8%), South Korea ($-10.8M or -20.2%), and Vietnam ($-9.2M or -77.3%), and product exports decrease in Planes, Helicopters, and/or Spacecraft ($-342M or -97.7%), Aircraft Parts ($-32M or -82.1%), and Medical Instruments ($-6.59M or -20.1%). In January 2021, the increase in Colorado's year-by-year imports was explained primarily by an increase in imports from Taiwan ($24.8M or 48.6%), Vietnam ($22.5M or 76.4%), and South Korea ($21.3M or 127%), and product imports increase in Integrated Circuits ($67.4M or 129%), Planes, Helicopters, and/or Spacecraft ($23.8M or 89.2%), and Rubber Footwear ($19.2M or 475%).
EXPORT GROWTH (January 2020 - January 2021): $-347M, (-34.7%)
IMPORT GROWTH (January 2020 - January 2021): $38.1M, (3.56%)
This section shows exports and imports data at subnational level for Colorado. 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 Colorado over time.
This section shows the differences between Colorado'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, $1.28B
Top Product (2020): Bovine cuts boneless, fresh or chilled, $531M
In 2020 the top export destinations of Colorado were Canada ($1.28B), Mexico ($1.05B), Malaysia ($609M), South Korea ($525M), and China ($524M).
In 2020 the top exports of Colorado were Bovine cuts boneless, fresh or chilled ($531M), Spacecraft: (including satellites) and suborbital and... ($509M), Electronic integrated circuits: n.e.c. in heading... ($453M), Instruments, appliances for medical, etc science,... ($313M), and Aircraft parts nes ($276M).
Fastest Growing Exports Destination (Jan 2020 - Jan 2021)
Rapidly Declining Export Origins (Jan 2020 - Jan 2021)
Top Origin (2020): Canada, $2.93B
Top Import (2020): Petroleum oils, oils from bituminous minerals,..., $1.58B
In 2020 the top import origins of Colorado were Canada ($2.93B), China ($1.68B), Mexico ($1.24B), Switzerland ($844M), and Taiwan ($616M).
In 2020 the top imports of Colorado were Petroleum oils, oils from bituminous minerals,... ($1.58B), Electronic integrated circuits: n.e.c. in heading... ($527M), Instruments, appliances for medical, etc science,... ($335M), Communication apparatus (excluding telephone sets or... ($333M), and Fixed wing aircraft, unladen weight 2,000-15,000... ($332M).
Fastest Growing Import Origins (Jan 2020 - Jan 2021)
Rapidly Declining Import Origins (Jan 2020 - Jan 2021)
Colorado ranks 26th out of the 53 states and territories in United States according to ECI.
Estimated using exports data.
The top export opportunities according to the relatedness level, without considering those products were Colorado already has a comparative advantage, are led by Non-optical Microscopes (0.26), X-Ray Equipment (0.26), Breathing Appliances (0.25), Blood, antisera, vaccines, toxins and cultures (0.25), and Halides (0.25).
The highest complexity exports of Colorado according to the product complexity index (PCI) are Photographic Chemicals (2.16), Photographic Film (1.96), Other Measuring Instruments (1.86), Other Esters (1.85), and Iron Fasteners (1.81). 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 Photographic Paper (90.6), Photographic Film (85.9), Friction Material (70.4), Buckwheat (69.6), and Molybdenum Ore (64.8).
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 Colorado 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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