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State in United States

2023
Economic
Complexity 0.65Rank 2 of 52
Nov 2024
Trade
Exports | Imports $1.63B | $1.87B26 of 54 | 29 of 54
Nov 2024
Country
Destination | Origin Canada | Canada $166M  | $469M

About

Overview This page contains the latest international trade data for Connecticut. In November 2024 Connecticut was the number 30 in total exports and the number 27 in total imports in United States.

Exports In 2023, United States' Connecticut exported $15.3B, making it the 30th largest exporter out of the 53 exporters in United States. In 2023 the top exports of Connecticut were Other Aircraft parts ($4.42B), Parts for Semiconductor Manufacturing Equipment ($816M), Commodities not specified according to kind ($663M), Aircraft parts for aeroplanes, helicopters, and... ($204M), and Electrical control and distribution boards, <... ($179M).

Imports In 2023, United States' Connecticut imported $21.4B, making it the 27th largest importer out of the 53 importers in United States. In 2023 top imports of Connecticut were Fixed-Wing Aircraft (>15,000 kg Unladen Weight) ($2.21B), Silver in unwrought forms ($1.74B), Commodities not specified according to kind ($1.72B), Petroleum spirit for motor vehicles ($1.43B), and Light petroleum distillates nes ($760M).

Economic Complexity In 2023, the highest complexity exports of Connecticut according to the product complexity index (PCI) are Developed Exposed Photographic Material (2.54), Rubberworking Machinery (1.8), Drafting Tools (1.71), Non-Mechanical Removal Machinery (1.69), Stainless Steel Wire (1.66), Iron Fasteners (1.62), Other Nickel Products (1.61), Tensile Testing Machines (1.6), Other Stainless Steel Bars (1.6), and Cermets (1.58). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

November, 2024

About

Overview In November 2024 Connecticut exported $1.63B and imported $1.87B, resulting in a negative trade balance of $244M. Between November 2023 and November 2024 the exports of Connecticut have increased by $275M (20.4%) from $1.35B to $1.63B, while imports increased by $270M (16.9%) from $1.6B to $1.87B.

Trade In November 2024, the top exports of Connecticut were Aircraft parts (gliders, balloons, and powered... ($531M), Machines and apparatus of a kind... ($118M), Commodities not elsewhere specified ($61.8M), Electric Generating Sets ($58.4M), and Aircraft parts for spacecraft, UAVs, and... ($37.6M). In November 2024 the top imports of Connecticut were Planes, Helicopters, and/or Spacecraft ($294M), Silver ($175M), Commodities not elsewhere specified ($174M), Refined Petroleum ($116M), and Gas Turbines ($47.5M).

Destinations In November 2024, Connecticut exported mostly to Canada ($166M), Mexico ($162M), Netherlands ($144M), Germany ($130M), and France ($127M), and imported mostly from Canada ($469M), Mexico ($307M), Germany ($112M), Netherlands ($107M), and China ($99.1M).

Growth In November 2024, the increase in Connecticut's year-by-year exports was explained primarily by an increase in exports to Mexico ($70.1M or 76.2%), Hong Kong ($69.2M or 872%), and Ukraine ($62.8M or 17.1k%), and product exports increase in Aircraft parts (gliders, balloons, and powered... ($110M or 26%), Electric Generating Sets ($56.6M or 3.07k%), and Machines and apparatus of a kind... ($16.6M or 16.4%). In November 2024, the increase in Connecticut's year-by-year imports was explained primarily by an increase in imports from Netherlands ($60.6M or 129%), Canada ($48M or 11.4%), and Chile ($30.6M or 288%), and product imports increase in Planes, Helicopters, and/or Spacecraft ($112M or 61.5%), Silver ($35.3M or 25.2%), and Commodities not elsewhere specified ($32M or 22.5%).

Latest Data

Time Scale
Flow
Color
Depth
EXPORT GROWTH (November 2023 - November 2024)$275M(20.4%)
IMPORT GROWTH (November 2023 - November 2024)$270M(16.9%)

This section shows exports and imports data at subnational level for Connecticut. 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 Connecticut over time.

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Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)Germany$2.1B
Top Product (2023)Other Aircraft parts $4.42B

In 2023 the top export destinations of Connecticut were Germany ($2.1B), Canada ($2.09B), Netherlands ($1.15B), United Kingdom ($1.1B), and Mexico ($1.07B).

In 2023 the top exports of Connecticut were Other Aircraft parts ($4.42B), Parts for Semiconductor Manufacturing Equipment ($816M), Commodities not specified according to kind ($663M), Aircraft parts for aeroplanes, helicopters, and... ($204M), and Electrical control and distribution boards, <... ($179M).

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Exports Dynamics

Fastest Growing Exports Destination (Nov 2023 - Nov 2024)
Mexico $70.1M (76.2%)
Hong Kong $69.2M (872%)
Ukraine $62.8M (17.1k%)
Rapidly Declining Export Origins (Nov 2023 - Nov 2024)
Germany -$67.3M (-34.2%)
Canada -$28.4M (-14.6%)
Dominican Republic -$14.7M (-44.8%)

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Yearly Imports

Color
Depth
Top Origin (2023)Canada$5.88B
Top Import (2023)Fixed-Wing Aircraft (>15,000 kg Unladen Weight)$2.21B

In 2023 the top import origins of Connecticut were Canada ($5.88B), Mexico ($3.6B), Germany ($1.65B), China ($1.24B), and Netherlands ($1.23B).

In 2023 the top imports of Connecticut were Fixed-Wing Aircraft (>15,000 kg Unladen Weight) ($2.21B), Silver in unwrought forms ($1.74B), Commodities not specified according to kind ($1.72B), Petroleum spirit for motor vehicles ($1.43B), and Light petroleum distillates nes ($760M).

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Imports Dynamics

Fastest Growing Import Origins (Nov 2023 - Nov 2024)
Bahamas $77.2M (0%)
Netherlands $60.6M (129%)
Canada $48M (11.4%)
Rapidly Declining Import Origins (Nov 2023 - Nov 2024)
Norway -$49.9M (-82.6%)
Germany -$24.8M (-18.2%)
Finland -$21.9M (-80.2%)

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Economic Complexity

Economic Complexity of Connecticut

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Economic Complexity (2023)0.65

Connecticut ranks 2nd out of the 53 states and territories in United States according to ECI.

The Economic Complexity Index, or ECI, is a measure of an economy’s capacity which can be inferred from data connecting locations to the activities that are present in them. For more info about Economic Complexity, visit the Economic Complexity page.

Estimated using exports data.

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Export Opportunities by Relatedness

The top export opportunities according to the relatedness level, without considering those products were Connecticut already has a comparative advantage, are led by Precious Metal Compounds (0.3), Non-optical Microscopes (0.28), Metal Pickling Preparations (0.28), Interchangeable Tool Parts (0.27), and Cutting Blades (0.27).

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Most Complex Products by PCI

The highest complexity exports of Connecticut according to the product complexity index (PCI) are Developed Exposed Photographic Material (2.54), Rubberworking Machinery (1.8), Drafting Tools (1.71), Non-Mechanical Removal Machinery (1.69), Stainless Steel Wire (1.66), Iron Fasteners (1.62), Other Nickel Products (1.61), Tensile Testing Machines (1.6), Other Stainless Steel Bars (1.6), and Cermets (1.58). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

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Most Specialized Products by RCA Index

The most specialized products according to the RCA index are led by Aircraft parts (gliders, balloons, and powered... (82.39), Water and Gas Generators (28.95), Weapons Parts and Accessories (26.50), Other Isotopes (20.66), and Opto-Electric Instrument Parts (19.61).

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Product Space

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 Connecticut 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.

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Relatedness Space

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

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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. Bubble size corresponds to exports value by year 2020.

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