Overview: In January 2021 Iowa exported $1.12B and imported $772M, resulting in a positive trade balance of $347M. Between January 2020 and January 2021 the exports of Iowa have increased by $81M (7.8%) from $1.04B to $1.12B, while imports increased by $39.9M (5.45%) from $732M to $772M.
Trade: In January 2021, the top exports of Iowa were Tractors ($102M), Pig Meat ($96M), Corn ($70.1M), Starch Residue ($51.9M), and Soybean Meal ($42.5M). In January 2021 the top imports of Iowa were Vehicle Parts ($31M), Combustion Engines ($29.2M), Tractors ($27.2M), Excavation Machinery ($26.1M), and Raw Aluminium ($23.9M).
Destinations: In January 2021, Iowa exported mostly to Canada ($261M), Mexico ($197M), China ($85.1M), Japan ($79M), and Germany ($61M), and imported mostly from Canada ($233M), China ($118M), Mexico ($106M), Germany ($53.2M), and Japan ($37.9M).
Growth: In January 2021, the increase in Iowa's year-by-year exports was explained primarily by an increase in exports to Mexico ($28.6M or 16.9%), Netherlands ($22.5M or 175%), and Ukraine ($21M or 707%), and product exports increase in Tractors ($72.6M or 248%), Starch Residue ($22.2M or 74.5%), and Molybdenum Ore ($17.4M or 331%). In January 2021, the increase in Iowa's year-by-year imports was explained primarily by an increase in imports from Canada ($39.8M or 20.6%), Austria ($13.6M or 391%), and Hungary ($11.5M or 1.48k%), and product imports increase in Packaged Medicaments ($8.96M or 4.19k%), Raw Aluminium ($8.42M or 54.4%), and Ammonia ($7.38M or 182%).