New Jersey

State in United States

2019
Economic
Complexity
: 0.27, Rank 29 of 53

Jan 2021
Trade
Exports | Imports
: $4.02B | $11.1B, 8 of 54 | 5 of 54

Jan 2021
Country
Destination | Origin
: Canada | China , $714M  | $1.34B

Jan 2021
Product
Exports | Imports
: Platinum | Packaged Medicaments , $1.14B  | $1.41B

Overview: This page contains the latest international trade data for New Jersey, including export and import data.

Exports: In 2020, United States' New Jersey exported $38B, making it the 11th largest exporter out of the 53 exporters in United States. In 2020 the top exports of New Jersey were Palladium unwrought or in powder form ($2.72B), Rhodium unwrought or in powder form ($2.5B), Waste and scrap of precious metals:... ($1.11B), Telephones for cellular networks or for... ($927M), and Waste and scrap of precious metals:... ($836M).

Imports: In 2020, United States' New Jersey imported $114B, making it the 6th largest importer out of the 53 importers in United States. In 2020 top imports of New Jersey were Medicaments nes, in dosage ($13.2B), Petroleum spirit for motor vehicles ($4.42B), Petroleum oils, oils from bituminous minerals,... ($4.02B), Light petroleum distillates nes ($2.56B), and Medium Sized Cars ($2.27B).

Economic Complexity: In 2019, the highest complexity exports of New Jersey according to the product complexity index (PCI) are Photographic Chemicals (2.16), Metal Lathes (1.88), Cermets (1.87), Halides (1.86), and Other Esters (1.85). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Comparison in Time

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This section shows the differences between New Jersey's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit United States's country profile.

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Yearly Exports

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Top Destination (2020): Canada, $7.23B

Top Product (2020): Palladium unwrought or in powder form, $2.72B

In 2020 the top export destinations of New Jersey were Canada ($7.23B), United Kingdom ($3.29B), China ($3.22B), Mexico ($2.83B), and Japan ($2B).

In 2020 the top exports of New Jersey were Palladium unwrought or in powder form ($2.72B), Rhodium unwrought or in powder form ($2.5B), Waste and scrap of precious metals:... ($1.11B), Telephones for cellular networks or for... ($927M), and Waste and scrap of precious metals:... ($836M).

Exports Dynamics

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Fastest Growing Exports Destination (Jan 2020 - Jan 2021)

Rapidly Declining Export Origins (Jan 2020 - Jan 2021)

Yearly Imports

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Top Origin (2020): China, $14.3B

Top Import (2020): Medicaments nes, in dosage, $13.2B

In 2020 the top import origins of New Jersey were China ($14.3B), Switzerland ($7.73B), India ($7.56B), Italy ($7.06B), and Canada ($6.95B).

In 2020 the top imports of New Jersey were Medicaments nes, in dosage ($13.2B), Petroleum spirit for motor vehicles ($4.42B), Petroleum oils, oils from bituminous minerals,... ($4.02B), Light petroleum distillates nes ($2.56B), and Medium Sized Cars ($2.27B).

Imports Dynamics

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Fastest Growing Import Origins (Jan 2020 - Jan 2021)

Rapidly Declining Import Origins (Jan 2020 - Jan 2021)

Economic Complexity

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Economic Complexity of United States

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New Jersey ranks 29th out of the 53 states and territories in United States according to ECI.

Estimated using exports data.

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Export Opportunities by Relatedness

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The top export opportunities according to the relatedness level, without considering those products were New Jersey already has a comparative advantage, are led by X-Ray Equipment (0.37), Aircraft Launch Gear (0.36), Developed Exposed Photographic Material (0.36), Photographic Film (0.35), and Photographic Paper (0.35).

Most Complex Products by PCI

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The highest complexity exports of New Jersey according to the product complexity index (PCI) are Photographic Chemicals (2.16), Metal Lathes (1.88), Cermets (1.87), Halides (1.86), and Other Esters (1.85). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Most Specialized Products by RCA Index

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The most specialized products according to the RCA index are led by Platinum (38.7), Precious Metal Scraps (37.1), Sorghum (24), Glass Balls (16.2), and Precious Metal Compounds (15.6).

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 New Jersey 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.

Relatedness Space

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This network shows the products most related to the production structure of  New Jersey. These are products that tend to be co-exported with the products that New Jersey exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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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.