Overview In August 2021 New Jersey exported $4.21B and imported $14.1B, resulting in a negative trade balance of $9.91B. Between August 2020 and August 2021 the exports of New Jersey have increased by $915M (27.8%) from $3.29B to $4.21B, while imports increased by $4.13B (41.4%) from $9.98B to $14.1B.
Trade In August 2021, the top exports of New Jersey were Platinum ($879M), Precious Metal Scraps ($335M), Computers ($138M), Jewellery ($138M), and Cars ($122M). In August 2021 the top imports of New Jersey were Packaged Medicaments ($1.77B), Refined Petroleum ($1.31B), Crude Petroleum ($810M), Platinum ($560M), and Cars ($523M).
Destinations In August 2021, New Jersey exported mostly to Canada ($807M), Italy ($350M), China ($333M), United Kingdom ($326M), and Japan ($306M), and imported mostly from China ($1.45B), Switzerland ($1.32B), Italy ($883M), India ($875M), and Canada ($733M).
Growth In August 2021, the increase in New Jersey's year-by-year exports was explained primarily by an increase in exports to Italy ($224M or 179%), Canada ($161M or 24.8%), and China ($122M or 57.8%), and product exports increase in Platinum ($430M or 95.9%), Precious Metal Scraps ($145M or 76.4%), and Jewellery ($88.6M or 179%). In August 2021, the increase in New Jersey's year-by-year imports was explained primarily by an increase in imports from Switzerland ($549M or 71.1%), Russia ($284M or 263%), and Saudi Arabia ($251M or 562%), and product imports increase in Refined Petroleum ($648M or 98.1%), Crude Petroleum ($459M or 130%), and Packaged Medicaments ($432M or 32.3%).