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State in United States

2023
Economic
Complexity 0.34Rank 26 of 52
Aug 2024
Trade
Exports | Imports $159M | $321M53 of 54 | 49 of 54
Aug 2024
Country
Destination | Origin Canada | Canada $58.5M  | $213M

About

Overview This page contains the latest international trade data for Vermont. In August 2024 Vermont was the number 51 in total exports and the number 47 in total imports in United States.

Exports In 2023, United States' Vermont exported $2.5B, making it the 51st largest exporter out of the 53 exporters in United States. In 2023 the top exports of Vermont were Electronic integrated circuits: n.e.c. in heading... ($341M), Electronic integrated circuits: processors and controllers,... ($148M), Other Aircraft parts ($113M), Gym and athletics equipment ($82.2M), and Electronic integrated circuits: amplifiers ($71.4M).

Imports In 2023, United States' Vermont imported $4.26B, making it the 47th largest importer out of the 53 importers in United States. In 2023 top imports of Vermont were Electrical energy ($775M), Chocolate Products (Contains Cocoa, >2kg) ($237M), Light petroleum distillates nes ($217M), Petroleum spirit for motor vehicles ($204M), and Commodities not specified according to kind ($151M).

Economic Complexity In 2023, the highest complexity exports of Vermont according to the product complexity index (PCI) are Developed Exposed Photographic Material (2.54), Rubberworking Machinery (1.78), Chemical Analysis Instruments (1.63), Integrated Circuits (1.46), Gaskets (1.38), Liquid Pumps (1.38), Mirrors and Lenses (1.35), Flat-Rolled Iron (1.28), Other Heating Machinery (1.24), and Iron Pipe Fittings (1.21). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

August, 2024

About

Overview In August 2024 Vermont exported $159M and imported $321M, resulting in a negative trade balance of $163M. Between August 2023 and August 2024 the exports of Vermont have increased by $8.89M (5.94%) from $150M to $159M, while imports increased by $916k (0.29%) from $320M to $321M.

Trade In August 2024, the top exports of Vermont were Integrated Circuits ($46.3M), Aircraft Parts ($7.92M), Chocolate ($7.74M), Sports Equipment ($7.06M), and Kaolin Coated Paper ($5.49M). In August 2024 the top imports of Vermont were Electricity ($54.2M), Chocolate ($49.7M), Refined Petroleum ($28.1M), Non-Knit Men's Suits ($16M), and Commodities not elsewhere specified ($10M).

Destinations In August 2024, Vermont exported mostly to Canada ($58.5M), Chinese Taipei ($20.8M), China ($12.4M), Germany ($8.35M), and South Korea ($6.08M), and imported mostly from Canada ($213M), China ($20.4M), Vietnam ($14.2M), Mexico ($12.3M), and Germany ($7.32M).

Growth In August 2024, the increase in Vermont's year-by-year exports was explained primarily by an increase in exports to Chinese Taipei ($5.16M or 33%), China ($3.58M or 40.4%), and South Korea ($2.57M or 73.4%), and product exports increase in Integrated Circuits ($6.33M or 15.9%), Kaolin Coated Paper ($3.36M or 157%), and Aircraft Parts ($2.39M or 43.3%). In August 2024, the increase in Vermont's year-by-year imports was explained primarily by an increase in imports from Vietnam ($5.88M or 70.5%), Indonesia ($2.76M or 177%), and Mexico ($2.3M or 23%), and product imports increase in Chocolate ($30.4M or 158%), Electricity ($5.14M or 10.5%), and Sports Equipment ($3.73M or 96.6%).

Latest Data

Time Scale
Flow
Color
Depth
EXPORT GROWTH (August 2023 - August 2024)$8.89M(5.94%)
IMPORT GROWTH (August 2023 - August 2024)$916k(0.29%)

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

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Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)Canada$680M
Top Product (2023)Electronic integrated circuits: n.e.c. in heading...$341M

In 2023 the top export destinations of Vermont were Canada ($680M), Chinese Taipei ($218M), China ($150M), Germany ($112M), and South Korea ($86.8M).

In 2023 the top exports of Vermont were Electronic integrated circuits: n.e.c. in heading... ($341M), Electronic integrated circuits: processors and controllers,... ($148M), Other Aircraft parts ($113M), Gym and athletics equipment ($82.2M), and Electronic integrated circuits: amplifiers ($71.4M).

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Exports Dynamics

Fastest Growing Exports Destination (Aug 2023 - Aug 2024)
Chinese Taipei $5.16M (33%)
China $3.58M (40.4%)
South Korea $2.57M (73.4%)
Rapidly Declining Export Origins (Aug 2023 - Aug 2024)
Singapore -$2.57M (-53.5%)
Malaysia -$2.34M (-46%)
Mexico -$2.24M (-31%)

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Yearly Imports

Color
Depth
Top Origin (2023)Canada$2.59B
Top Import (2023)Electrical energy$775M

In 2023 the top import origins of Vermont were Canada ($2.59B), China ($190M), Germany ($92.3M), Mexico ($91.4M), and France ($91.3M).

In 2023 the top imports of Vermont were Electrical energy ($775M), Chocolate Products (Contains Cocoa, >2kg) ($237M), Light petroleum distillates nes ($217M), Petroleum spirit for motor vehicles ($204M), and Commodities not specified according to kind ($151M).

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Imports Dynamics

Fastest Growing Import Origins (Aug 2023 - Aug 2024)
Vietnam $5.88M (70.5%)
Indonesia $2.76M (177%)
Mexico $2.3M (23%)
Rapidly Declining Import Origins (Aug 2023 - Aug 2024)
Italy -$6.96M (-77.5%)
Romania -$2.68M (-96.2%)
South Korea -$2.63M (-80.4%)

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Economic Complexity

Economic Complexity of Vermont

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Economic Complexity (2023)0.34

Vermont ranks 26th 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 Vermont already has a comparative advantage, are led by Prints (0.17), Cutting Blades (0.17), Metalworking Machine Parts (0.16), Gas Turbines (0.16), and Metalworking Machines (0.16).

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Most Complex Products by PCI

The highest complexity exports of Vermont according to the product complexity index (PCI) are Developed Exposed Photographic Material (2.54), Rubberworking Machinery (1.78), Chemical Analysis Instruments (1.63), Integrated Circuits (1.46), Gaskets (1.38), Liquid Pumps (1.38), Mirrors and Lenses (1.35), Flat-Rolled Iron (1.28), Other Heating Machinery (1.24), and Iron Pipe Fittings (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 Synthetic Monofilament (120.67), Other Headwear (99.05), Casting Machines (78.91), Composite Paper (64.25), and Granite (29.27).

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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 Vermont 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  Vermont. These are products that tend to be co-exported with the products that Vermont 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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