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Besides being the third-most highly populated American state, New York placed behind only California and Texas in U.S. international trade sales during 2009.

New York generated US$62.9 billion worth of exports in 2009 - or 5.4% of total U.S. exports.

For the year, the Empire State imported $92.7 billion worth of goods from around the world. That amount represents 6% of total U.S. imports.

New York ran a $29.5 billion trade deficit during 2009.

Top 10 Exports from New York

The following top 10 exports represent 38.1% of all products shipped out of New York State last year.

  • Non-industrial diamonds … US$7 billion (12.2% of New York exports, down 35.5% from 2008)
  • Hand paintings, drawing and pastels … $4.1 billion (7.1%, down 20.7%)
  • Jewelry … $3 billion (5.2%, down 10.8%)
  • Civilian aircraft including engines and parts … $2.1 billion (3.6%, down 16.4%)
  • Non-monetary gold … $1.2 billion (2.1%, down 82.3%)
  • Refined oil … $1.2 billion (2.1%, down 36.8%)
  • Gold waste and scrap … $1.19 billion (2.1%, up 7%)
  • Human medicine vaccines … $724 million (1.3%, up 188.1%)
  • Original sculptures and statues … $715 million (1.25%, down 11.6%)
  • Medium-sized passenger vehicles … $676 million (1.2%, down 40.6%).

Among the leading exports out of New York, 8 showed percentage decreases over 2008. Only human vaccines and gold waste exports posted percentage gains in 2009.

Top 10 Imports into New York

The following imports account for 28.9% of New York imports during 2009.

  • Non-industrial diamonds … US$2.8 billion (11.4% of New York imports, down 29.5% from 2008)
  • Natural gas … $2.4 billion (3%, down 63.6%)
  • Hand paintings, drawing and pastels $2.34 billion (2.6%, down 37.1%)
  • Non-monetary gold … $2.32 billion (2.52%, down 5.2%)
  • Retail packaged medications … $2 billion (2.5%, down 34.9%)
  • Jewelry … $1.2 billion (2.2%, down 23.3%)
  • Medium-sized passenger vehicles … $1.15 billion (1.3%, down 31.6%)
  • Cell phones … 1.1 billion (1.2%, up 40.1%)
  • Refined oil … $957 million (1.2%, down 28.6%)
  • Cotton knit products including sweaters … $925 million (0.9%, down 10.8%).

Led by a 63.6% plunge in the value of natural gas deliveries, 9 of the top 10 imports into New York fell last year. The only exception was a 40.1% gain in New York imports of cell phones.

New York Luxury Goods Lead in International Trade

Unlike half of U.S. states where crude oil is the number one import, New York brings in major amounts of natural gas and refined oil from around the world.

New York importers are also more focused on high-end products including diamonds, artwork and jewelry.

New York is a global center for trading luxury items including precious metals and fine art. Luxury good categories including diamonds, gold and jewelry appear on New York's top 10 lists for both exports and imports.

Sources: This analysis presents independent calculations and insights based on Foreign Trade statistics from the U.S. Census Bureau. The Census Bureau is responsible for collecting, compiling and publishing trade statistics for the United States, including such special features as the top 25 imports and exports by state.

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โˆ™ 2012-10-03 16:32:39
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Q: What are the major imports and exports of New York?
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