Overview: In January 2021 New Jersey exported $4.02B and imported $11.1B, resulting in a negative trade balance of $7.07B. Between January 2020 and January 2021 the exports of New Jersey have increased by $1.01B (33.5%) from $3.01B to $4.02B, while imports increased by $1.77B (19%) from $9.32B to $11.1B.
Trade: In January 2021, the top exports of New Jersey were Platinum ($1.14B), Precious Metal Scraps ($290M), Telephones ($145M), Cars ($105M), and Computers ($89.1M). In January 2021 the top imports of New Jersey were Packaged Medicaments ($1.41B), Refined Petroleum ($842M), Cars ($697M), Platinum ($548M), and Crude Petroleum ($454M).
Destinations: In January 2021, New Jersey exported mostly to Canada ($714M), China ($434M), Italy ($422M), United Kingdom ($345M), and Mexico ($256M), and imported mostly from China ($1.34B), Switzerland ($822M), United Kingdom ($718M), India ($709M), and Canada ($688M).
Growth: In January 2021, the increase in New Jersey's year-by-year exports was explained primarily by an increase in exports to China ($320M or 278%), Italy ($231M or 121%), and Canada ($132M or 22.7%), and product exports increase in Platinum ($742M or 188%), Precious Metal Scraps ($69.3M or 31.4%), and Telephones ($68.7M or 90.4%). In January 2021, the increase in New Jersey's year-by-year imports was explained primarily by an increase in imports from United Kingdom ($372M or 107%), Mexico ($192M or 53.5%), and Switzerland ($164M or 24.9%), and product imports increase in Cars ($506M or 265%), Platinum ($398M or 264%), and Packaged Medicaments ($288M or 25.6%).