The ins and outs of exports.
Author | Frazzini, Kevin |
Position | STATESTATS |
Global trade is a give and take. The U.S. produced and exported goods and services valued at S2.2 trillion in 2015, the U.S. Census Bureau reports, but imported goods and services worth $2.8 trillion. The result was a trade deficit of more than $530 billion.
It's the imbalance of trade in goods alone, however, that drives the deficit. As a service exporter--of banking and investment advice, for example--the U.S. is a powerhouse, enjoying a trade surplus of $227.4 billion in that category in 2015.
While Congress and the administration debate the merits of current and future trade agreements, states will continue their giving and taking. Here's a snapshot of states' top manufactured exports.
BY THE NUMBERS
2015 U.S. Trade Highlights
$365.7 billion Deficit with China, highest on record
$153.3 billion Deficit with the European Union, highest on record
$74.2 billion Deficit with Germany, highest on record
$37.4 billion Surplus with South and Central America, highest on record
2.7 billion Quantity in barrels of crude oil imports, lowest since 1993 (2.5 billion barrels)
$47.26 Import average price per barrel of crude oil. lowest since 2005 ($46.81)
Source: U.S. Census Bureau
Top Destinations for States' Goods
MEXICO 4 STATES
CANADA 35 STATES
BRAZIL 1 STATE
U.K. 2 STATES
FRANCE 1 STATE
SWITZ 1 STATE
CHINA 5 STATES
AUSTRALIA 1 STATE
Caption: States' Top Manufactured Exports
The Goods Each state's top goods export and its value, or total selling price, in millions of dollars. Alabama Small car $3,143 Alaska Zinc $898 Arizona Aircraft $2,968 Arkansas Aircraft $791 California Aircraft .786 Colorado Microchips $373 Connecticut Aircraft $6,504 Delaware Drugs $1,300 Florida Aircraft $4,746 Georgia Aircraft $6,210 Hawaii Aircraft $516 Idaho Memory chips $798 Illinois Light oils $2,648 Indiana Drugs $4,446 Iowa Corn $966 Kansas Aircraft $2,037 Kentucky Aircraft $8,677 Louisiana Refined oils $12,021 Maine...
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