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State in United States

2023
Economic
Complexity 0.29Rank 31 of 52
Nov 2024
Trade
Exports | Imports $924M | $1.63B35 of 54 | 32 of 54
Nov 2024
Country
Destination | Origin India | China $246M  | $361M

About

Overview This page contains the latest international trade data for Nevada. In November 2024 Nevada was the number 34 in total exports and the number 30 in total imports in United States.

Exports In 2023, United States' Nevada exported $10.1B, making it the 34th largest exporter out of the 53 exporters in United States. In 2023 the top exports of Nevada were Unwrought Non-Monetary Gold ($1.98B), Other Integrated Circuits (n.e.c.) ($612M), Copper ores and concentrates ($596M), Processor-Controller Integrated Circuits ($405M), and Games, coin or disc operated ($399M).

Imports In 2023, United States' Nevada imported $19B, making it the 30th largest importer out of the 53 importers in United States. In 2023 top imports of Nevada were Other Integrated Circuits (n.e.c.) ($1.87B), Other Chemical Mixtures & Preparations (Heading... ($1.75B), Smartphones ($1.04B), Parts of electric accumulators, including separators ($848M), and Games, coin or disc operated ($512M).

Economic Complexity In 2023, 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), Halides (1.43), Electric Batteries (1.38), Telephones (1.28), Integrated Circuits (1.25), Chemically Pure Sugars (1.22), and Other Electrical Machinery (1.21). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

November, 2024

About

Overview In November 2024 Nevada exported $924M and imported $1.63B, resulting in a negative trade balance of $702M. Between November 2023 and November 2024 the exports of Nevada have increased by $59.7M (6.91%) from $864M to $924M, while imports increased by $124M (8.29%) from $1.5B to $1.63B.

Trade In November 2024, the top exports of Nevada were Gold ($243M), Copper Ore ($100M), Coin ($56.4M), Integrated Circuits ($54.8M), and Video and Card Games ($45.7M). In November 2024 the top imports of Nevada were Telephones ($178M), Integrated Circuits ($141M), Prepr binder for foundry ($95.7M), Planes, Helicopters, and/or Spacecraft ($73.9M), and Electric Batteries ($53.4M).

Destinations In November 2024, Nevada exported mostly to India ($246M), Canada ($177M), China ($67.2M), Mexico ($47M), and Germany ($40.8M), and imported mostly from China ($361M), Chinese Taipei ($160M), Mexico ($140M), Japan ($133M), and Canada ($110M).

Growth In November 2024, the increase in Nevada's year-by-year exports was explained primarily by an increase in exports to India ($239M or 3.21k%), Canada ($27.1M or 18.1%), and Germany ($26.3M or 182%), and product exports increase in Gold ($56.7M or 30.5%), Copper Ore ($48.1M or 92%), and Coin ($37.9M or 206%). In November 2024, the increase in Nevada's year-by-year imports was explained primarily by an increase in imports from China ($124M or 52.1%), France ($74.6M or 224%), and Vietnam ($41M or 80.7%), and product imports increase in Telephones ($133M or 295%), Planes, Helicopters, and/or Spacecraft ($61.8M or 508%), and Low-voltage Protection Equipment ($20M or 245%).

Latest Data

Time Scale
Flow
Color
Depth
EXPORT GROWTH (November 2023 - November 2024)$59.7M(6.91%)
IMPORT GROWTH (November 2023 - November 2024)$124M(8.29%)

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 (2023)Canada$1.94B
Top Product (2023)Unwrought Non-Monetary Gold$1.98B

In 2023 the top export destinations of Nevada were Canada ($1.94B), Switzerland ($1.22B), India ($992M), Mexico ($851M), and China ($786M).

In 2023 the top exports of Nevada were Unwrought Non-Monetary Gold ($1.98B), Other Integrated Circuits (n.e.c.) ($612M), Copper ores and concentrates ($596M), Processor-Controller Integrated Circuits ($405M), and Games, coin or disc operated ($399M).

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Exports Dynamics

Fastest Growing Exports Destination (Nov 2023 - Nov 2024)
India $239M (3.21k%)
Canada $27.1M (18.1%)
Germany $26.3M (182%)
Rapidly Declining Export Origins (Nov 2023 - Nov 2024)
Switzerland -$157M (-84.4%)
Mexico -$63.5M (-57.5%)
Chinese Taipei -$22.1M (-63.5%)

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Yearly Imports

Color
Depth
Top Origin (2023)China$4.15B
Top Import (2023)Other Integrated Circuits (n.e.c.)$1.87B

In 2023 the top import origins of Nevada were China ($4.15B), Japan ($2.33B), Chinese Taipei ($1.64B), Canada ($1.52B), and South Korea ($1.52B).

In 2023 the top imports of Nevada were Other Integrated Circuits (n.e.c.) ($1.87B), Other Chemical Mixtures & Preparations (Heading... ($1.75B), Smartphones ($1.04B), Parts of electric accumulators, including separators ($848M), and Games, coin or disc operated ($512M).

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Imports Dynamics

Fastest Growing Import Origins (Nov 2023 - Nov 2024)
China $124M (52.1%)
France $74.6M (224%)
Vietnam $41M (80.7%)
Rapidly Declining Import Origins (Nov 2023 - Nov 2024)
Chinese Taipei -$129M (-44.6%)
Japan -$62.5M (-32%)
South Korea -$18.2M (-15.3%)

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Economic Complexity

Economic Complexity of Nevada

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Economic Complexity (2023)0.29

Nevada ranks 31st 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 (0.16), Non-optical Microscopes (0.16), Gas Turbines (0.16), Base Metal Watches (0.16), and Developed Exposed Photographic Material (0.16).

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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), Halides (1.43), Electric Batteries (1.38), Telephones (1.28), Integrated Circuits (1.25), Chemically Pure Sugars (1.22), and Other Electrical Machinery (1.21). 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 (683.54), Rare-Earth Metal Compounds (78.61), Military Weapons (58.16), Cyanides (45.75), and Video and Card Games (24.54).

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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

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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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