Vermont

Vermont Exports & Foreign Investment

 

In 2023, Vermont exported not a record $2.0 billion of goods to the world.  In 2021, exports from Vermont supported an estimated 8 thousand jobs.

 

Exports from Vermont and Jobs

• Vermont was the 49^th largest state exporter of goods in 2023.
• In 2023, Vermont goods exports were $2.0 billion, a decrease of 51 percent ($2.0 billion) from its export level in 2013 (latest data available).
• Goods exports accounted for 4.6 percent of Vermont GDP in 2023 (latest data available).
• Vermont goods exports in 2021 (latest data available) supported an estimated 8 thousand jobs. Nationally, jobs supported by goods exports pay up to an estimated 18 percent above the national average.

Manufacturing Exports from Vermont and Jobs

• In 2023, Vermont exported $1.9 billion of manufactured products.
• Vermont exports of manufactured products supported an estimated 8 thousand jobs in 2021 (latest data available).
• The state's largest manufacturing export category is computer and electronic products, which accounted for $746 million of Vermont's total goods exports in 2023.
• Other top manufacturing exports are miscellaneous manufactured commodities ($200 million), machinery, except electrical ($186 million), transportation equipment ($161 million), and food and kindred products ($151 million).

 

Exports Sustain Thousands of Vermont Businesses many of which are SMEs

• A total of 1,056 companies exported from Vermont locations in 2022 (latest data available). Of those, 907 (86 percent) were small and medium sized enterprises with fewer than 500 employees.
•  Small and medium-sized firms generated 24.2 percent of Vermont's total exports of goods in 2022.

 

Vermont Depends on World Markets

• The state’s largest market was Canada. Vermont exported $680 million in goods to Canada in 2023, representing 34 percent of the state’s total goods exports.
• Canada was followed by Taiwan ($218 million), China ($150 million), Germany ($112 million), and Korea, South ($87 million).
• Vermont’s exports to major world areas included:

 

 

• 48 percent of Vermont’s goods exports ($961 million) in 2023 went to current FTA partners. 

Agriculture in Vermont depends on Exports

• Vermont is the country’s 44^th largest agricultural exporting state, shipping $256 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 Vermont

• In 2021 (latest data available), foreign-controlled companies employed 14,200 Vermont workers. Major sources of foreign investment in Vermont included Canada, Canada and Germany. 
• Foreign investment in Vermont was responsible for 5.7 percent of the state's total private-industry employment in 2021.

Vermont’s Major Metropolitan Areas Benefit from Exporting

In 2022 (latest data available), the following metropolitan areas in Vermont recorded goods exports: Burlington-South Burlington ($1.7 billion).