Overview: In January 2021 Virginia exported $1.53B and imported $2.55B, resulting in a negative trade balance of $1.02B. Between January 2020 and January 2021 the exports of Virginia have increased by $146M (10.6%) from $1.38B to $1.53B, while imports increased by $90.7M (3.69%) from $2.46B to $2.55B.
Trade: In January 2021, the top exports of Virginia were Soybeans ($179M), Coal Briquettes ($167M), Integrated Circuits ($65.7M), Pig Meat ($60M), and Industrial Printers ($37.8M). In January 2021 the top imports of Virginia were Industrial Printers ($239M), Computers ($125M), Aircraft Parts ($119M), Other Furniture ($68.7M), and Vehicle Parts ($49.4M).
Destinations: In January 2021, Virginia exported mostly to China ($277M), Canada ($255M), Mexico ($66.7M), Taiwan ($55M), and Brazil ($53.9M), and imported mostly from China ($571M), Canada ($215M), Germany ($181M), Malaysia ($146M), and Vietnam ($131M).
Growth: In January 2021, the increase in Virginia's year-by-year exports was explained primarily by an increase in exports to China ($163M or 143%), Canada ($23M or 9.92%), and Tunisia ($19.8M or 7.5k%), and product exports increase in Soybeans ($151M or 527%), Beer ($15.7M or 429%), and Pig Meat ($14.9M or 32.9%). In January 2021, the increase in Virginia's year-by-year imports was explained primarily by an increase in imports from Canada ($52.9M or 32.6%), Taiwan ($49.4M or 148%), and China ($47.5M or 9.07%), and product imports increase in Computers ($47.9M or 61.8%), Industrial Printers ($32.7M or 15.8%), and Flavored Water ($22M or 232%).