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Import/Export Price Indexes

New England: Price Movements of Top Exports and Other Highlights

April 2024

Photo of lighthouse on the New England coast

The New England region, which consists of Massachusetts, Connecticut, New Hampshire, Maine, Rhode Island, and Vermont, exported a total trade dollar value of $66.6 billion in 2023, a 3.9-percent increase from 2022. Prices for the largest export industry in New England, chemical manufacturing, increased in March. Export prices for computer and electronic product manufacturing and machinery manufacturing advanced over the same period.

Top Six New England Exports by Trade Dollar Value, 2023

  • New England exports represented 3.3 percent of the trade dollar value for U.S. exports in 2023.
  • The New England states accounted for 4.8 percent of the 2023 U.S. total of chemical manufacturing exports. Massachusetts alone accounted for 3.7 percent.
  • The top six New England export industries accounted for 77.9 percent of the region's total exports in 2023.

U.S. Export Price Indexes: Chemical Manufacturing

  • Export chemical manufacturing prices increased 0.5 percent in March.
  • The price index for chemical manufacturing exports declined 2.8 percent over the past year.
  • A 10.0-percent decrease in prices for other basic inorganic chemical manufacturing led the 12-month decline in prices for chemical manufacturing.

U.S. Export Price Indexes: Computer and Electronic Product Manufacturing

  • Computer and electronic product manufacturing export prices increased 0.2 percent in March.
  • Despite the monthly advance, export computer and electronic product manufacturing prices decreased 0.2 percent for the 12 months ended March 2024.
  • A 2.5-percent decline in prices for semiconductor and other electronic component manufacturing drove the 12-month drop in the price index for computer and electronic product manufacturing.

U.S. Export Price Indexes: Machinery Manufacturing

  • The price index for export machinery manufacturing rose 0.1 percent in March.
  • Export machinery manufacturing prices increased 2.2 percent over the past year.
  • A 3.9-percent increase in prices for agriculture, construction, and mining machinery manufacturing contributed to the 12-month advance in prices for machinery manufacturing.

New England Chemical Manufacturing Exporting States by Trade Dollar Value, 2023

  • Massachusetts exports of chemical manufacturing accounted for 15.9 percent of total New England exports in 2023.
  • New England ranked seventh in exports of chemical manufacturing in 2023.
  • The total value of chemical manufacturing exports from New England increased 34.1 percent in 2023 compared to 2022.

 

New England Information Office • BLSInfoBoston@bls.gov • https://www.bls.gov/regions/new-england/ • 617-565-2327 

 

Last Modified Date: April 19, 2024