MassachusettsState in United States
2020 Economic Complexity : 0.57, Rank 3 of 52
Jul 2021 Trade Exports | Imports: $2.54B | $4.3B, 18 of 54 | 16 of 54
Jul 2021 Country Destination | Origin: China | Canada , $337M | $1.16B
Jul 2021 Product Exports | Imports: Machines and apparatus of a kind used solely... | Paintings/drawings/pastels executed by hand , $167M | $365M
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 2020, the highest complexity exports of Massachusetts according to the product complexity index (PCI) are Photographic Chemicals (2.16), Cermets (1.87), Oscilloscopes (1.77), Blank Audio Media (1.74), and Non-optical Microscopes (1.71). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
July, 2021
Overview In July 2021 Massachusetts exported $2.54B and imported $4.3B, resulting in a negative trade balance of $1.76B. Between July 2020 and July 2021 the exports of Massachusetts have increased by $610M (31.6%) from $1.93B to $2.54B, while imports increased by $1.15B (36.4%) from $3.15B to $4.3B.
Trade In July 2021, the top exports of Massachusetts were Blood, antisera, vaccines, toxins and cultures ($229M), Machines and apparatus of a kind... ($219M), Medical Instruments ($214M), Integrated Circuits ($160M), and Centrifuges ($124M). In July 2021 the top imports of Massachusetts were Paintings ($365M), Refined Petroleum ($331M), Medical Instruments ($251M), Crustaceans ($241M), and Other Precious Metal Products ($183M).
Destinations In July 2021, Massachusetts exported mostly to China ($337M), Mexico ($267M), Canada ($243M), Germany ($165M), and Netherlands ($137M), and imported mostly from Canada ($1.16B), Italy ($438M), Mexico ($369M), China ($368M), and Germany ($195M).
Growth In July 2021, the increase in Massachusetts's year-by-year exports was explained primarily by an increase in exports to China ($111M or 48.7%), Mexico ($87M or 48.2%), and Ireland ($66M or 157%), and product exports increase in Blood, antisera, vaccines, toxins and cultures ($198M or 641%), Integrated Circuits ($86.5M or 117%), and Machines and apparatus of a kind... ($65M or 42.1%). In July 2021, the increase in Massachusetts's year-by-year imports was explained primarily by an increase in imports from Canada ($404M or 53.7%), Italy ($373M or 579%), and Japan ($81.5M or 99.6%), and product imports increase in Paintings ($363M or 15.3k%), Refined Petroleum ($191M or 137%), and Crustaceans ($76.2M or 46.3%).
EXPORT GROWTH (July 2020 - July 2021): $610M, (31.6%)
IMPORT GROWTH (July 2020 - July 2021): $1.15B, (36.4%)
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.
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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 (Jul 2020 - Jul 2021)
Rapidly Declining Import Origins (Jul 2020 - Jul 2021)
Economic Complexity (2020): 0.57
Massachusetts ranks 3rd 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.
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 (0.31), Halides (0.3), Photographic Film (0.29), Photo Lab Equipment (0.29), and Blown Glass (0.29).
The highest complexity exports of Massachusetts according to the product complexity index (PCI) are Photographic Chemicals (2.16), Cermets (1.87), Oscilloscopes (1.77), Blank Audio Media (1.74), and Non-optical Microscopes (1.71). 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 (68.7), Tensile Testing Machines (22.8), Polymer Ion-Exchangers (22.6), Unpackaged Medicaments (18.0), and Laboratory Reagents (17.7).
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.