MassachusettsState in United States
2019 Economic Complexity: 0.55, Rank 4 of 53
Jan 2021 Trade Exports | Imports: $2.24B | $2.89B, 17 of 54 | 17 of 54
Jan 2021 Country Destination | Origin: China | Canada , $243M | $630M
Jan 2021 Product Exports | Imports: Medical Instruments | Refined Petroleum , $190M | $223M
Overview: This page contains the latest international trade data for Massachusetts, including export and import data.
Exports: In 2020, United States' Massachusetts exported $24.9B, making it the 18th largest exporter out of the 53 exporters in United States. In 2020 the top exports of Massachusetts were Gold in unwrought forms non-monetary ($1.41B), Machines and apparatus of a kind... ($1.24B), Instruments, appliances for medical, etc science,... ($1.08B), Needles, catheters, cannulae etc, (medical) ($810M), and Filtering/purifying machinery for liquids nes ($724M).
Imports: In 2020, United States' Massachusetts imported $35B, making it the 17th largest importer out of the 53 importers in United States. In 2020 top imports of Massachusetts were Commodities not specified according to kind ($1.75B), Petroleum spirit for motor vehicles ($1.39B), Articles of, or clad with, precious... ($1.31B), Electronic integrated circuits: n.e.c. in heading... ($1.23B), and Instruments, appliances for medical, etc science,... ($954M).
Economic Complexity: In 2019, the highest complexity exports of Massachusetts according to the product complexity index (PCI) are Photographic Chemicals (2.16), Machinery Having Individual Functions (1.93), Cermets (1.87), Other Measuring Instruments (1.86), and Silicone (1.83). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Overview: In January 2021 Massachusetts exported $2.24B and imported $2.89B, resulting in a negative trade balance of $653M. Between January 2020 and January 2021 the exports of Massachusetts have increased by $111M (5.24%) from $2.12B to $2.24B, while imports increased by $141M (5.14%) from $2.75B to $2.89B.
Trade: In January 2021, the top exports of Massachusetts were Medical Instruments ($190M), Machines and apparatus of a kind... ($167M), Centrifuges ($108M), Integrated Circuits ($91.1M), and Coin ($90.4M). In January 2021 the top imports of Massachusetts were Refined Petroleum ($223M), Medical Instruments ($191M), Integrated Circuits ($178M), Commodities not elsewhere specified ($152M), and Cars ($93.8M).
Destinations: In January 2021, Massachusetts exported mostly to China ($243M), Canada ($208M), Mexico ($197M), Germany ($164M), and Hong Kong ($138M), and imported mostly from Canada ($630M), China ($398M), Mexico ($312M), Japan ($156M), and Germany ($146M).
Growth: In January 2021, the increase in Massachusetts's year-by-year exports was explained primarily by an increase in exports to Hong Kong ($88M or 175%), China ($78.3M or 47.4%), and Mexico ($29.8M or 17.9%), and product exports increase in Machines and apparatus of a kind... ($62.7M or 60.4%), Fork-Lifts ($46.3M or 102k%), and Coin ($45.7M or 102%). In January 2021, the increase in Massachusetts's year-by-year imports was explained primarily by an increase in imports from Mexico ($66.4M or 27%), China ($42.2M or 11.9%), and South Korea ($41.3M or 121%), and product imports increase in Commodities not elsewhere specified ($73.3M or 93.6%), Medical Instruments ($46.5M or 32.2%), and Integrated Circuits ($39.6M or 28.6%).
EXPORT GROWTH (January 2020 - January 2021): $111M, (5.24%)
IMPORT GROWTH (January 2020 - January 2021): $141M, (5.14%)
This section shows exports and imports data at subnational level for Massachusetts. 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 Massachusetts over time.
This section shows the differences between Massachusetts'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, $2.75B
Top Product (2020): Gold in unwrought forms non-monetary, $1.41B
In 2020 the top export destinations of Massachusetts were Canada ($2.75B), China ($2.67B), United Kingdom ($2.29B), Mexico ($2.06B), and Germany ($2B).
In 2020 the top exports of Massachusetts were Gold in unwrought forms non-monetary ($1.41B), Machines and apparatus of a kind... ($1.24B), Instruments, appliances for medical, etc science,... ($1.08B), Needles, catheters, cannulae etc, (medical) ($810M), and Filtering/purifying machinery for liquids nes ($724M).
Top Origin (2020): Canada, $7.78B
Top Import (2020): Commodities not specified according to kind, $1.75B
In 2020 the top import origins of Massachusetts were Canada ($7.78B), China ($3.62B), Mexico ($3.47B), Germany ($2.21B), and Ireland ($1.91B).
In 2020 the top imports of Massachusetts were Commodities not specified according to kind ($1.75B), Petroleum spirit for motor vehicles ($1.39B), Articles of, or clad with, precious... ($1.31B), Electronic integrated circuits: n.e.c. in heading... ($1.23B), and Instruments, appliances for medical, etc science,... ($954M).
Fastest Growing Import Origins (Jan 2020 - Jan 2021)
Rapidly Declining Import Origins (Jan 2020 - Jan 2021)
Massachusetts ranks 4th 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 Massachusetts already has a comparative advantage, are led by Developed Exposed Photographic Material (0.3), Halides (0.29), Photo Lab Equipment (0.28), Photographic Film (0.28), and Blown Glass (0.28).
The highest complexity exports of Massachusetts according to the product complexity index (PCI) are Photographic Chemicals (2.16), Machinery Having Individual Functions (1.93), Cermets (1.87), Other Measuring Instruments (1.86), and Silicone (1.83). 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 Tantalum (53.6), Military Weapons (25.5), Tensile Testing Machines (25.1), Unpackaged Medicaments (16.2), and Medical Instruments (15.5).
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 Massachusetts 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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