New Jersey

New Jersey Exports & Foreign Investment

 

In 2023, New Jersey exported not a record $43.3 billion of goods to the world.  In 2021, exports from New Jersey supported an estimated 143 thousand jobs.

 

Exports from New Jersey and Jobs

• New Jersey was the 13^th largest state exporter of goods in 2023.
• In 2023, New Jersey goods exports were $43.3 billion, an increase of 18 percent ($6.7 billion) from its export level in 2013 (latest data available).
• Goods exports accounted for 5.4 percent of New Jersey GDP in 2023 (latest data available).
• New Jersey goods exports in 2021 (latest data available) supported an estimated 143 thousand jobs. Nationally, jobs supported by goods exports pay up to an estimated 18 percent above the national average.

Manufacturing Exports from New Jersey and Jobs

• In 2023, New Jersey exported $38.5 billion of manufactured products.
• New Jersey exports of manufactured products supported an estimated 124 thousand jobs in 2021 (latest data available).
• The state's largest manufacturing export category is chemicals, which accounted for $11.1 billion of New Jersey's total goods exports in 2023.
• Other top manufacturing exports are computer and electronic products ($6.7 billion), primary metal manufacturing ($5.1 billion), miscellaneous manufactured commodities ($3.6 billion), and machinery, except electrical ($2.0 billion).

 

Exports Sustain Thousands of New Jersey Businesses many of which are SMEs

• A total of 20,072 companies exported from New Jersey locations in 2022 (latest data available). Of those, 18,331 (91 percent) were small and medium sized enterprises with fewer than 500 employees.
•  Small and medium-sized firms generated 39.0 percent of New Jersey's total exports of goods in 2022.

 

New Jersey Depends on World Markets

• The state’s largest market was Canada. New Jersey exported $8.8 billion in goods to Canada in 2023, representing 20 percent of the state’s total goods exports.
• Canada was followed by Mexico ($3.3 billion), Japan ($2.4 billion), China ($2.3 billion), and United Kingdom ($2.0 billion).
• New Jersey’s exports to major world areas included:

 

 

• 39 percent of New Jersey’s goods exports ($16.9 billion) in 2023 went to current FTA partners. 

Agriculture in New Jersey depends on Exports

• New Jersey is the country’s 37^th largest agricultural exporting state, shipping $687 million in domestic agricultural exports abroad in 2022 (latest data available according to the U.S. Dept. of Agriculture).^[1]
• Top Agricultural exports were:

 

 

International Investment Creates Jobs in New Jersey

• In 2021 (latest data available), foreign-controlled companies employed 292,500 New Jersey workers. Major sources of foreign investment in New Jersey included France, the United Kingdom and Switzerland. 
• Foreign investment in New Jersey was responsible for 8.4 percent of the state's total private-industry employment in 2021.

New Jersey’s Major Metropolitan Areas Benefit from Exporting

In 2022 (latest data available), the following metropolitan areas in New Jersey recorded goods exports: New York-Newark-Jersey City ($120.6 billion), Allentown-Bethlehem-Easton ($4.6 billion), Trenton-Princeton ($1.5 billion), Vineland-Bridgeton ($524.4 million), Atlantic City-Hammonton ($112.8 million), and Ocean City ($19.9 million).