Overview: In May 2021 New Jersey exported $4.49B and imported $13.8B, resulting in a negative trade balance of $9.33B. Between May 2020 and May 2021 the exports of New Jersey have increased by $1.97B (77.9%) from $2.53B to $4.49B, while imports increased by $6.55B (90%) from $7.27B to $13.8B.
Trade: In May 2021, the top exports of New Jersey were Platinum ($1.04B), Precious Metal Scraps ($517M), Jewellery ($173M), Cars ($141M), and Computers ($105M). In May 2021 the top imports of New Jersey were Packaged Medicaments ($1.77B), Refined Petroleum ($1.61B), Platinum ($804M), Cars ($711M), and Crude Petroleum ($663M).
Destinations: In May 2021, New Jersey exported mostly to Canada ($809M), United Kingdom ($617M), China ($384M), Italy ($290M), and Japan ($263M), and imported mostly from China ($1.29B), Switzerland ($1.15B), India ($886M), Italy ($885M), and Canada ($778M).
Growth: In May 2021, the increase in New Jersey's year-by-year exports was explained primarily by an increase in exports to Canada ($399M or 97.3%), United Kingdom ($310M or 101%), and Italy ($236M or 437%), and product exports increase in Platinum ($737M or 240%), Precious Metal Scraps ($322M or 165%), and Jewellery ($165M or 2.13k%). In May 2021, the increase in New Jersey's year-by-year imports was explained primarily by an increase in imports from Switzerland ($751M or 187%), Italy ($554M or 167%), and India ($444M or 100%), and product imports increase in Refined Petroleum ($1.24B or 332%), Packaged Medicaments ($838M or 89.4%), and Cars ($654M or 1.13k%).