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State in United States

2023
Economic
Complexity 0.62Rank 3 of 52
Sep 2024
Trade
Exports | Imports $2.9B | $3.57B20 of 54 | 22 of 54
Sep 2024
Country
Destination | Origin China | Canada $322M  | $803M

About

Overview This page contains the latest international trade data for Massachusetts. In September 2024 Massachusetts was the number 18 in total exports and the number 18 in total imports in United States.

Exports In 2023, United States' Massachusetts exported $32.7B, making it the 18th largest exporter out of the 53 exporters in United States. In 2023 the top exports of Massachusetts were Human vaccines and similar products ($4.52B), Semiconductor Manufacturing Equipment ($1.92B), Immunological Products in Retail Packaging ($1.37B), Medical & Scientific Instruments (n.e.s.) ($1.25B), and Filtering/purifying machinery for liquids nes ($930M).

Imports In 2023, United States' Massachusetts imported $49.3B, making it the 18th largest importer out of the 53 importers in United States. In 2023 top imports of Massachusetts were Petroleum spirit for motor vehicles ($3.16B), Artificial parts of the body: excluding... ($1.78B), Light petroleum distillates nes ($1.72B), Other Integrated Circuits (n.e.c.) ($1.63B), and Commodities not specified according to kind ($1.36B).

Economic Complexity In 2023, the highest complexity exports of Massachusetts according to the product complexity index (PCI) are Photographic Chemicals (2.17), Precious Metal Compounds (2.07), Non-optical Microscopes (1.97), Machinery Having Individual Functions (1.93), Blank Audio Media (1.91), Oscilloscopes (1.81), Metal Pickling Preparations (1.79), Silicone (1.74), Polymer Ion-Exchangers (1.74), and Hand Saws (1.72). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

September, 2024

About

Overview In September 2024 Massachusetts exported $2.9B and imported $3.57B, resulting in a negative trade balance of $673M. Between September 2023 and September 2024 the exports of Massachusetts have increased by $437M (17.7%) from $2.46B to $2.9B, while imports increased by $47.1M (1.34%) from $3.53B to $3.57B.

Trade In September 2024, the top exports of Massachusetts were Gold ($245M), Machines and apparatus of a kind... ($233M), Medical Instruments ($206M), Vaccines, blood, antisera, toxins and cultures ($176M), and Packaged Medicaments ($166M). In September 2024 the top imports of Massachusetts were Refined Petroleum ($294M), Medical Instruments ($232M), Integrated Circuits ($175M), Orthopedic Appliances ($157M), and Commodities not elsewhere specified ($134M).

Destinations In September 2024, Massachusetts exported mostly to China ($322M), Switzerland ($306M), Mexico ($267M), United Kingdom ($264M), and Canada ($228M), and imported mostly from Canada ($803M), Mexico ($485M), China ($319M), Germany ($224M), and Ireland ($197M).

Growth In September 2024, the increase in Massachusetts's year-by-year exports was explained primarily by an increase in exports to Switzerland ($258M or 537%), United Kingdom ($152M or 136%), and Netherlands ($81.6M or 61.9%), and product exports increase in Gold ($243M or 11.5k%), Packaged Medicaments ($150M or 902%), and Platinum ($86M or 549%). In September 2024, the increase in Massachusetts's year-by-year imports was explained primarily by an increase in imports from Mexico ($106M or 27.9%), France ($70.7M or 111%), and China ($63.1M or 24.6%), and product imports increase in Electric Motor Parts ($68.1M or 6.22k%), Medical Instruments ($40.5M or 21.2%), and Precious Metal Scraps ($39M or 419%).

Latest Data

Time Scale
Flow
Color
Depth
EXPORT GROWTH (September 2023 - September 2024)$437M(17.7%)
IMPORT GROWTH (September 2023 - September 2024)$47.1M(1.34%)

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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Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)Belgium$4.86B
Top Product (2023)Human vaccines and similar products$4.52B

In 2023 the top export destinations of Massachusetts were Belgium ($4.86B), China ($3.34B), Canada ($3.29B), Mexico ($2.74B), and Germany ($2.28B).

In 2023 the top exports of Massachusetts were Human vaccines and similar products ($4.52B), Semiconductor Manufacturing Equipment ($1.92B), Immunological Products in Retail Packaging ($1.37B), Medical & Scientific Instruments (n.e.s.) ($1.25B), and Filtering/purifying machinery for liquids nes ($930M).

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Exports Dynamics

Fastest Growing Exports Destination (Sep 2023 - Sep 2024)
Switzerland $258M (537%)
United Kingdom $152M (136%)
Netherlands $81.6M (61.9%)
Rapidly Declining Export Origins (Sep 2023 - Sep 2024)
Germany -$58.9M (-26.5%)
Canada -$49.1M (-17.7%)
Argentina -$26.3M (-86.4%)

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Yearly Imports

Color
Depth
Top Origin (2023)Canada$11.4B
Top Import (2023)Petroleum spirit for motor vehicles$3.16B

In 2023 the top import origins of Massachusetts were Canada ($11.4B), Mexico ($4.89B), China ($3.34B), Ireland ($3.03B), and Germany ($2.63B).

In 2023 the top imports of Massachusetts were Petroleum spirit for motor vehicles ($3.16B), Artificial parts of the body: excluding... ($1.78B), Light petroleum distillates nes ($1.72B), Other Integrated Circuits (n.e.c.) ($1.63B), and Commodities not specified according to kind ($1.36B).

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Imports Dynamics

Fastest Growing Import Origins (Sep 2023 - Sep 2024)
Mexico $106M (27.9%)
France $70.7M (111%)
China $63.1M (24.6%)
Rapidly Declining Import Origins (Sep 2023 - Sep 2024)
Ireland -$141M (-41.7%)
United Kingdom -$53.6M (-28.6%)
Japan -$46.8M (-33.9%)

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Economic Complexity

Economic Complexity of Massachusetts

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Economic Complexity (2023)0.62

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.

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Export Opportunities by Relatedness

The top export opportunities according to the relatedness level, without considering those products were Massachusetts already has a comparative advantage, are led by Prints (0.28), Developed Exposed Photographic Material (0.27), Watch Movements (0.26), Photo Lab Equipment (0.26), and Stainless Steel Ingots (0.25).

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Most Complex Products by PCI

The highest complexity exports of Massachusetts according to the product complexity index (PCI) are Photographic Chemicals (2.17), Precious Metal Compounds (2.07), Non-optical Microscopes (1.97), Machinery Having Individual Functions (1.93), Blank Audio Media (1.91), Oscilloscopes (1.81), Metal Pickling Preparations (1.79), Silicone (1.74), Polymer Ion-Exchangers (1.74), and Hand Saws (1.72). 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 Coin (114.17), Tantalum (52.54), Other Isotopes (46.32), Polymer Ion-Exchangers (33.32), and Unpackaged Medicaments (31.24).

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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 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.

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Relatedness Space

This network shows the products most related to the production structure of  Massachusetts. These are products that tend to be co-exported with the products that Massachusetts 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

Depth
Filter

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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