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State in United States

2024
Economic
Complexity 0.22Rank 37 of 52
Dec 2024
Trade
Exports | Imports $914M | $1.98B35 of 54 | 28 of 54
Dec 2024
Country
Destination | Origin India | China $223M  | $616M

About

Overview This page contains the latest international trade data for Nevada. In December 2024 Nevada was the number 35 in total exports and the number 31 in total imports in United States.

Exports In 2024, United States' Nevada exported $10.1B, making it the 35th largest exporter out of the 53 exporters in United States. In 2024 the top exports of Nevada were Unwrought Non-Monetary Gold ($2.33B), Copper ores and concentrates ($892M), Processor-Controller Integrated Circuits ($386M), Other Integrated Circuits (n.e.c.) ($365M), and Games, coin or disc operated ($342M).

Imports In 2024, United States' Nevada imported $19B, making it the 31st largest importer out of the 53 importers in United States. In 2024 top imports of Nevada were Smartphones ($1.37B), Other Chemical Mixtures & Preparations (Heading... ($1.36B), Other Integrated Circuits (n.e.c.) ($812M), Voice & Data Communication Machines ($804M), and Processor-Controller Integrated Circuits ($623M).

Economic Complexity In 2024, the highest complexity exports of Nevada according to the product complexity index (PCI) are Blank Audio Media (1.71), Other Stainless Steel Bars (1.6), X-Ray Equipment (1.57), Other Measuring Instruments (1.56), Electric Batteries (1.38), Telephones (1.28), Other Electrical Machinery (1.21), Sound Recordings (1.04), Vitamins (1.01), and Metal Insulating Fittings (0.94). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

December, 2024

About

Overview In December 2024 Nevada exported $801M and imported $1.76B, resulting in a negative trade balance of $963M. Between December 2023 and December 2024 the exports of Nevada have increased by $34.4M (4.48%) from $766M to $801M, while imports increased by $429M (32.1%) from $1.33B to $1.76B.

Trade In December 2024, the top exports of Nevada were Gold ($246M), Telephones ($66.4M), Integrated Circuits ($51M), Computers ($36.4M), and Video and Card Games ($32.3M). In December 2024 the top imports of Nevada were Telephones ($376M), Computers ($127M), Prepr binder for foundry ($125M), Planes, Helicopters, and/or Spacecraft ($125M), and Electric Batteries ($85.5M).

Destinations In December 2024, Nevada exported mostly to India ($223M), Canada ($108M), Mexico ($90.1M), China ($70.1M), and Chinese Taipei ($54.9M), and imported mostly from China ($616M), Japan ($172M), Vietnam ($157M), Chinese Taipei ($157M), and France ($151M).

Growth In December 2024, the increase in Nevada's year-by-year exports was explained primarily by an increase in exports to India ($218M or 4.42k%), Chinese Taipei ($39.6M or 259%), and Netherlands ($30.4M or 430%), and product exports increase in Telephones ($45.7M or 220%), Gold ($22M or 9.82%), and Computers ($19.8M or 119%). In December 2024, the increase in Nevada's year-by-year imports was explained primarily by an increase in imports from France ($136M or 951%), China ($133M or 27.5%), and Vietnam ($102M or 189%), and product imports increase in Planes, Helicopters, and/or Spacecraft ($111M or 763%), Telephones ($110M or 41.1%), and Computers ($92.6M or 268%).

Latest Data

Time Scale
Flow
Color
Depth
EXPORT GROWTH (December 2023 - December 2024)$34.4M(4.48%)
IMPORT GROWTH (December 2023 - December 2024)$429M(32.1%)

This section shows exports and imports data at subnational level for Nevada. 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 Nevada over time.

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Historical Data

Yearly Exports

Color
Depth
Top Destination (2024)Canada$1.79B
Top Product (2024)Unwrought Non-Monetary Gold$2.33B

In 2024 the top export destinations of Nevada were Canada ($1.79B), India ($1.3B), Switzerland ($1.29B), Mexico ($897M), and China ($890M).

In 2024 the top exports of Nevada were Unwrought Non-Monetary Gold ($2.33B), Copper ores and concentrates ($892M), Processor-Controller Integrated Circuits ($386M), Other Integrated Circuits (n.e.c.) ($365M), and Games, coin or disc operated ($342M).

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Exports Dynamics

Fastest Growing Exports Destination (Dec 2023 - Dec 2024)
India $172M (3.14k%)
Vietnam $35.3M (1.27k%)
China $20.3M (26.3%)
Rapidly Declining Export Origins (Dec 2023 - Dec 2024)
Switzerland -$128M (-94.4%)
Mexico -$64.2M (-59.5%)
Canada -$28.4M (-18.7%)

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Yearly Imports

Color
Depth
Top Origin (2024)China$4.93B
Top Import (2024)Smartphones$1.37B

In 2024 the top import origins of Nevada were China ($4.93B), Japan ($1.8B), Chinese Taipei ($1.61B), Mexico ($1.57B), and Canada ($1.48B).

In 2024 the top imports of Nevada were Smartphones ($1.37B), Other Chemical Mixtures & Preparations (Heading... ($1.36B), Other Integrated Circuits (n.e.c.) ($812M), Voice & Data Communication Machines ($804M), and Processor-Controller Integrated Circuits ($623M).

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Imports Dynamics

Fastest Growing Import Origins (Dec 2023 - Dec 2024)
China $164M (53.8%)
South Korea $94.2M (72.9%)
Thailand $52.7M (201%)
Rapidly Declining Import Origins (Dec 2023 - Dec 2024)
Japan -$31.6M (-19.9%)
France -$24.2M (-45%)
Philippines -$10.8M (-32.6%)

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Economic Complexity

Economic Complexity of Nevada

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Economic Complexity (2024)0.22

Nevada ranks 37th 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 Nevada already has a comparative advantage, are led by Other Nickel Products (0.15), Precious Metal Watches (0.15), Non-optical Microscopes (0.15), Gas Turbines (0.14), and Precious Metal Compounds (0.14).

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Most Complex Products by PCI

The highest complexity exports of Nevada according to the product complexity index (PCI) are Blank Audio Media (1.71), Other Stainless Steel Bars (1.6), X-Ray Equipment (1.57), Other Measuring Instruments (1.56), Electric Batteries (1.38), Telephones (1.28), Other Electrical Machinery (1.21), Sound Recordings (1.04), Vitamins (1.01), and Metal Insulating Fittings (0.94). 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 (823.57), Rare-Earth Metal Compounds (142.60), Military Weapons (88.50), Scrap Nickel (27.91), and Activated Carbon (26.69).

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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 Nevada 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  Nevada. These are products that tend to be co-exported with the products that Nevada 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
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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. Bubble size corresponds to exports value by year 2020.

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