Tennessee

Tennessee Exports & Foreign Investment

 

In 2023, Tennessee exported not a record $38.1 billion of goods to the world.  In 2021, exports from Tennessee supported an estimated 119 thousand jobs.

 

Exports from Tennessee and Jobs

• Tennessee was the 16^th largest state exporter of goods in 2023.
• In 2023, Tennessee goods exports were $38.1 billion, an increase of 17 percent ($5.6 billion) from its export level in 2013 (latest data available).
• Goods exports accounted for 7.3 percent of Tennessee GDP in 2023 (latest data available).
• Tennessee goods exports in 2021 (latest data available) supported an estimated 119 thousand jobs. Nationally, jobs supported by goods exports pay up to an estimated 18 percent above the national average.

Manufacturing Exports from Tennessee and Jobs

• In 2023, Tennessee exported $35.7 billion of manufactured products.
• Tennessee exports of manufactured products supported an estimated 108 thousand jobs in 2021 (latest data available).
• The state's largest manufacturing export category is computer and electronic products, which accounted for $7.5 billion of Tennessee's total goods exports in 2023.
• Other top manufacturing exports are transportation equipment ($6.1 billion), chemicals ($5.2 billion), miscellaneous manufactured commodities ($4.9 billion), and machinery, except electrical ($3.1 billion).

 

Exports Sustain Thousands of Tennessee Businesses many of which are SMEs

• A total of 7,268 companies exported from Tennessee locations in 2022 (latest data available). Of those, 5,981 (82 percent) were small and medium sized enterprises with fewer than 500 employees.
•  Small and medium-sized firms generated 16.7 percent of Tennessee's total exports of goods in 2022.

 

Tennessee Depends on World Markets

• The state’s largest market was Canada. Tennessee exported $8.8 billion in goods to Canada in 2023, representing 23 percent of the state’s total goods exports.
• Canada was followed by Mexico ($6.1 billion), China ($3.0 billion), Netherlands ($2.3 billion), and Japan ($2.1 billion).
• Tennessee’s exports to major world areas included:

 

 

• 50 percent of Tennessee’s goods exports ($19.0 billion) in 2023 went to current FTA partners. 

Agriculture in Tennessee depends on Exports

• Tennessee is the country’s 26^th largest agricultural exporting state, shipping $2.2 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 Tennessee

• In 2021 (latest data available), foreign-controlled companies employed 202,300 Tennessee workers. Major sources of foreign investment in Tennessee included Japan, the United Kingdom and France.
• Foreign investment in Tennessee was responsible for 7.5 percent of the state's total private-industry employment in 2021.

Tennessee’s Major Metropolitan Areas Benefit from Exporting

In 2022 (latest data available), the following metropolitan areas in Tennessee recorded goods exports: Nashville-Davidson-Murfreesboro-Franklin ($9.3 billion), Kingsport-Bristol ($6.7 billion), Knoxville ($3.9 billion), Cleveland ($622.8 million), Johnson City ($469.9 million), and Morristown ($440.6 million).