WashingtonState in United States
2020 Economic Complexity : -0.19, Rank 49 of 52
Aug 2022 Trade Exports | Imports: $4.43B | $6.64B, 10 of 54 | 13 of 54
Aug 2022 Country Destination | Origin: Canada | Canada , $932M | $2.01B
Aug 2022 Product Exports | Imports: Other Aircraft parts | Petroleum oils, oils from bituminous minerals, crude , $989M | $851M
Overview This page contains the latest international trade data for Washington. In August 2022 Washington was the number 8 in total exports and the number 15 in total imports in United States.
Exports In 2021, United States' Washington exported $53.6B, making it the 8th largest exporter out of the 53 exporters in United States. In 2021 the top exports of Washington were Other Aircraft parts ($12.9B), Soya beans: other than seed, whether... ($7.23B), Maize except seed corn ($3.85B), Cereals: wheat and meslin, other than... ($2.53B), and Light petroleum distillates nes ($1.15B).
Imports In 2021, United States' Washington imported $61.8B, making it the 15th largest importer out of the 53 importers in United States. In 2021 top imports of Washington were Petroleum oils, oils from bituminous minerals,... ($6.56B), Medium Sized Cars ($3.92B), Natural gas in gaseous state ($3.78B), Commodities not specified according to kind ($2.71B), and Other games: video game consoles and... ($2.03B).
Economic Complexity In 2020, the highest complexity exports of Washington according to the product complexity index (PCI) are Hydrides and other anions (1.6), Aircraft Parts (0.76), Hops (0.23), Other Frozen Vegetables (-0.22), and Apples and Pears (-0.77). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
August, 2022
Overview In August 2022 Washington exported $4.43B and imported $6.64B, resulting in a negative trade balance of $2.22B. Between August 2021 and August 2022 the exports of Washington have increased by $1.17B (35.9%) from $3.26B to $4.43B, while imports increased by $949M (16.7%) from $5.69B to $6.64B.
Trade In August 2022, the top exports of Washington were Aircraft Parts ($989M), Wheat ($459M), Soybeans ($369M), Refined Petroleum ($167M), and Corn ($149M). In August 2022 the top imports of Washington were Crude Petroleum ($851M), Petroleum Gas ($603M), Cars ($486M), Other toys ($371M), and Commodities not elsewhere specified ($167M).
Destinations In August 2022, Washington exported mostly to Canada ($932M), China ($890M), Japan ($408M), South Korea ($276M), and Philippines ($161M), and imported mostly from Canada ($2.01B), China ($1.76B), Japan ($602M), Vietnam ($391M), and South Korea ($222M).
Growth In August 2022, the increase in Washington's year-by-year exports was explained primarily by an increase in exports to China ($706M or 136%), United Kingdom ($277M or 246%), and Taiwan ($148M or 192%), and product exports increase in Soybeans ($667M or 220%), Corn ($276M or 1.91k%), and Telephones ($73.1M or 428%). In August 2022, the increase in Washington's year-by-year imports was explained primarily by an increase in imports from China ($197M or 23.7%), Vietnam ($77.8M or 35.6%), and Brazil ($38.6M or 241%), and product imports increase in Video and Card Games ($163M or 185%), Other toys ($45.7M or 67.6%), and Radioactive Chemicals ($45.3M or 201%).
EXPORT GROWTH (August 2021 - August 2022): $1.17B, (35.9%)
IMPORT GROWTH (August 2021 - August 2022): $949M, (16.7%)
This section shows exports and imports data at subnational level for Washington. 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 Washington over time.
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Top Destination (2021): China, $12.1B
Top Product (2021): Other Aircraft parts , $12.9B
In 2021 the top export destinations of Washington were China ($12.1B), Canada ($7.71B), Japan ($5.23B), South Korea ($2.83B), and Mexico ($2.81B).
In 2021 the top exports of Washington were Other Aircraft parts ($12.9B), Soya beans: other than seed, whether... ($7.23B), Maize except seed corn ($3.85B), Cereals: wheat and meslin, other than... ($2.53B), and Light petroleum distillates nes ($1.15B).
Top Origin (2021): Canada, $18.7B
Top Import (2021): Petroleum oils, oils from bituminous minerals,..., $6.56B
In 2021 the top import origins of Washington were Canada ($18.7B), China ($14.7B), Japan ($6.05B), Vietnam ($2.93B), and South Korea ($2.67B).
In 2021 the top imports of Washington were Petroleum oils, oils from bituminous minerals,... ($6.56B), Medium Sized Cars ($3.92B), Natural gas in gaseous state ($3.78B), Commodities not specified according to kind ($2.71B), and Other games: video game consoles and... ($2.03B).
Economic Complexity (2021): -0.19
Washington ranks 49th 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.
The top export opportunities according to the relatedness level, without considering those products were Washington already has a comparative advantage, are led by Gold (0.16), Scrap Lead (0.16), Other Oily Seeds (0.16), Edible Offal (0.16), and Animal Food (0.16).
The highest complexity exports of Washington according to the product complexity index (PCI) are Hydrides and other anions (1.6), Aircraft Parts (0.76), Hops (0.23), Other Frozen Vegetables (-0.22), and Apples and Pears (-0.77). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The most specialized products according to the RCA index are led by Oil Seed Flower (321.7), Hops (122.2), Forage Crops (67.6), Sorghum (58.8), and Aircraft Parts (52.0).
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 Washington 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.
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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