New York
State in United States
Overview: This page contains the latest international trade data for New York, including export and import data.
Exports: In 2020, United States' New York exported $61.8B, making it the 3rd largest exporter out of the 53 exporters in United States. In 2020 the top exports of New York were Diamonds (jewellery) worked but not mounted... ($6.58B), Gold in unwrought forms non-monetary ($5.78B), Paintings/drawings/pastels executed by hand ($4.29B), Commodities not specified according to kind ($4B), and Jewellery and parts of precious metal... ($2.82B).
Imports: In 2020, United States' New York imported $153B, making it the 4th largest importer out of the 53 importers in United States. In 2020 top imports of New York were Articles of, or clad with, precious... ($21.5B), Gold in unwrought forms non-monetary ($21B), Diamonds (jewellery) worked but not mounted... ($11B), Commodities not specified according to kind ($6.1B), and Gold, semi-manufactured forms, non-monetary ($4.02B).
Economic Complexity: In 2019, the highest complexity exports of New York according to the product complexity index (PCI) are Photographic Chemicals (2.16), Photographic Film (1.96), Cermets (1.87), Other Measuring Instruments (1.86), and Silicone (1.83). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Latest Trends (January, 2021)
#permalink to sectionOverview: In January 2021 New York exported $4.71B and imported $11.2B, resulting in a negative trade balance of $6.46B. Between January 2020 and January 2021 the exports of New York have decreased by $-874M (-15.6%) from $5.58B to $4.71B, while imports increased by $1.43B (14.7%) from $9.74B to $11.2B.
Trade: In January 2021, the top exports of New York were Diamonds ($708M), Paintings ($291M), Jewellery ($199M), Gold ($198M), and Telephones ($142M). In January 2021 the top imports of New York were Diamonds ($1.42B), Other Precious Metal Products ($890M), Gold ($662M), Commodities not elsewhere specified ($586M), and Jewellery ($291M).
Destinations: In January 2021, New York exported mostly to Canada ($931M), Hong Kong ($321M), Switzerland ($294M), China ($271M), and Israel ($270M), and imported mostly from China ($1.69B), Canada ($1.35B), India ($1.31B), Switzerland ($1.22B), and France ($435M).
Growth: In January 2021, the decrease in New York's year-by-year exports was explained primarily by an decrease in exports to United Kingdom ($-274M or -55.8%), Israel ($-132M or -32.8%), and Germany ($-94.6M or -27.2%), and product exports decrease in Paintings ($-324M or -52.7%), Diamonds ($-176M or -19.9%), and Jewellery ($-147M or -42.4%). In January 2021, the increase in New York's year-by-year imports was explained primarily by an increase in imports from Switzerland ($851M or 229%), India ($352M or 36.9%), and Australia ($241M or 574%), and product imports increase in Other Precious Metal Products ($851M or 2.19k%), Gold ($578M or 687%), and Scented Mixtures ($174M or 628%).
Monthly Trade
#permalink to sectionEXPORT GROWTH (January 2020 - January 2021): $-874M, (-15.6%)
IMPORT GROWTH (January 2020 - January 2021): $1.43B, (14.7%)
This section shows exports and imports data at subnational level for New York. 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 New York over time.
Comparison in Time
#permalink to sectionThis section shows the differences between New York's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit United States's country profile.
Yearly Exports
#permalink to sectionTop Destination (2020): Canada, $13.8B
Top Product (2020): Diamonds (jewellery) worked but not mounted..., $6.58B
In 2020 the top export destinations of New York were Canada ($13.8B), Switzerland ($6.43B), United Kingdom ($4.09B), Hong Kong ($3.93B), and Germany ($3.03B).
In 2020 the top exports of New York were Diamonds (jewellery) worked but not mounted... ($6.58B), Gold in unwrought forms non-monetary ($5.78B), Paintings/drawings/pastels executed by hand ($4.29B), Commodities not specified according to kind ($4B), and Jewellery and parts of precious metal... ($2.82B).
Exports Dynamics
#permalink to sectionYearly Imports
#permalink to sectionTop Origin (2020): Switzerland, $33.1B
Top Import (2020): Articles of, or clad with, precious..., $21.5B
In 2020 the top import origins of New York were Switzerland ($33.1B), China ($19.6B), Canada ($15.2B), India ($9.68B), and France ($5.95B).
In 2020 the top imports of New York were Articles of, or clad with, precious... ($21.5B), Gold in unwrought forms non-monetary ($21B), Diamonds (jewellery) worked but not mounted... ($11B), Commodities not specified according to kind ($6.1B), and Gold, semi-manufactured forms, non-monetary ($4.02B).
Imports Dynamics
#permalink to sectionLatest Data
#permalink to sectionEconomic Complexity
#permalink to sectionEconomic Complexity of United States
#permalink to sectionNew York ranks 23rd out of the 53 states and territories in United States according to ECI.
Estimated using exports data.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities according to the relatedness level, without considering those products were New York already has a comparative advantage, are led by Halides (0.27), Non-optical Microscopes (0.27), Developed Exposed Photographic Material (0.26), Phenol Derivatives (0.26), and Nitrogen Heterocyclic Compounds (0.26).
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of New York according to the product complexity index (PCI) are Photographic Chemicals (2.16), Photographic Film (1.96), Cermets (1.87), Other Measuring Instruments (1.86), and Silicone (1.83). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Most Specialized Products by RCA Index
#permalink to sectionThe most specialized products according to the RCA index are led by Paintings (104), Sculptures (80.6), Antiques (51), Precious Stones (47.9), and Glass Working Machines (31.5).
Product Space
#permalink to sectionThe 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 New York 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.
Diversification Frontier
#permalink to sectionThe 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.
