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%).