Overview: In January 2021 Rhode Island exported $239M and imported $664M, resulting in a negative trade balance of $425M. Between January 2020 and January 2021 the exports of Rhode Island have decreased by $-16.2M (-6.33%) from $255M to $239M, while imports decreased by $-156M (-19.1%) from $820M to $664M.
Trade: In January 2021, the top exports of Rhode Island were Precious Metal Scraps ($56.3M), Jewellery ($23.8M), Centrifuges ($14.7M), Scrap Iron ($9.74M), and Precious Metal Compounds ($9.26M). In January 2021 the top imports of Rhode Island were Cars ($340M), Refined Petroleum ($71.7M), Medical Instruments ($39.6M), Planes, Helicopters, and/or Spacecraft ($14.5M), and Silver ($7.38M).
Destinations: In January 2021, Rhode Island exported mostly to Italy ($40.9M), Canada ($37.8M), Mexico ($24M), China ($22.4M), and Dominican Republic ($21.7M), and imported mostly from Mexico ($134M), Japan ($92.3M), Germany ($88.6M), Canada ($80.4M), and China ($62.1M).
Growth: In January 2021, the decrease in Rhode Island's year-by-year exports was explained primarily by an decrease in exports to Switzerland ($-24.8M or -95.5%), Japan ($-18.4M or -82.3%), and Saudi Arabia ($-8.63M or -97.1%), and product exports decrease in Blood, antisera, vaccines, toxins and cultures ($-30.7M or -78.2%), Scrap Iron ($-5.3M or -35.2%), and Precious Metal Scraps ($-5.29M or -8.59%). In January 2021, the decrease in Rhode Island's year-by-year imports was explained primarily by an decrease in imports from Canada ($-72.9M or -47.5%), Germany ($-43.9M or -33.1%), and Ireland ($-29.3M or -82%), and product imports decrease in Cars ($-81.9M or -19.4%), Refined Petroleum ($-49.6M or -40.9%), and Orthopedic Appliances ($-25.4M or -81.9%).