New York

New York Exports & Foreign Investment

 

In 2023, New York exported not a record $97.8 billion of goods to the world.  In 2021, exports from New York supported an estimated 240 thousand jobs.

 

Exports from New York and Jobs

• New York was the 4^th largest state exporter of goods in 2023.
• In 2023, New York goods exports were $97.8 billion, an increase of 13 percent ($11 billion) from its export level in 2013 (latest data available).
• Goods exports accounted for 4.5 percent of New York GDP in 2023 (latest data available).
• New York goods exports in 2021 (latest data available) supported an estimated 240 thousand jobs. Nationally, jobs supported by goods exports pay up to an estimated 18 percent above the national average.

Manufacturing Exports from New York and Jobs

• In 2023, New York exported $76.2 billion of manufactured products.
• New York exports of manufactured products supported an estimated 211 thousand jobs in 2021 (latest data available).
• The state's largest manufacturing export category is miscellaneous manufactured commodities, which accounted for $25.8 billion of New York's total goods exports in 2023.
• Other top manufacturing exports are primary metal manufacturing ($15.7 billion), computer and electronic products ($8.8 billion), chemicals ($5.5 billion), and machinery, except electrical ($5.4 billion).

 

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

• A total of 33,826 companies exported from New York locations in 2022 (latest data available). Of those, 31,418 (93 percent) were small and medium sized enterprises with fewer than 500 employees.
•  Small and medium-sized firms generated 60.7 percent of New York's total exports of goods in 2022.

 

New York Depends on World Markets

• The state’s largest market was Canada. New York exported $19.5 billion in goods to Canada in 2023, representing 20 percent of the state’s total goods exports.
• Canada was followed by Switzerland ($13.7 billion), Hong Kong ($8.3 billion), Israel ($4.9 billion), and United Kingdom ($4.8 billion).
• New York’s exports to major world areas included:

 

 

• 37 percent of New York’s goods exports ($35.8 billion) in 2023 went to current FTA partners. 

Agriculture in New York depends on Exports

• New York is the country’s 28^th largest agricultural exporting state, shipping $2.0 billion 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 York

• In 2021 (latest data available), foreign-controlled companies employed 509,200 New York workers. Major sources of foreign investment in New York included the United Kingdom, France and Germany. 
• Foreign investment in New York was responsible for 6.7 percent of the state's total private-industry employment in 2021.

New York’s Major Metropolitan Areas Benefit from Exporting

In 2022 (latest data available), the following metropolitan areas in New York recorded goods exports: New York-Newark-Jersey City ($120.6 billion), Buffalo-Cheektowaga ($5.5 billion), Albany-Schenectady-Troy ($3.4 billion), Syracuse ($2.5 billion), Poughkeepsie-Newburgh-Middletown ($2.2 billion), Utica-Rome ($788.8 million), Binghamton ($351.1 million), Glens Falls ($267.6 million), Watertown-Fort Drum ($256.4 million), Elmira ($209.1 million), Ithaca ($180.4 million), and Kingston ($179.8 million).