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Import/Export Price Indexes

New Jersey and New York: Price Movements of Top Exports and Other Highlights

March 2024

Photo of the Statue of Liberty in New York

Combined exports from New Jersey and New York totaled $141.2 billion in 2023, down 9.4 percent from 2022. New Jersey exports totaled $43.3 billion in 2023 and the export value from New York was $97.8 billion. Prices for miscellaneous manufacturing, the largest export industry for the two states, increased in February. Prices for computer and electronic product manufacturing and chemical manufacturing advanced over the same period. Export prices for primary metal manufacturing fell in February.

Top Six New Jersey and New York Exports by Trade Dollar Value, 2023

  • New Jersey and New York exports represented 7.0 percent of the total trade dollar value of U.S. exports in 2023.
  • New Jersey and New York exported 28.1 percent of the 2023 U.S. total trade dollar value of $74.1 billion for primary metal manufacturing.
  • The top 6 exports from New Jersey and New York accounted for 72.4 percent of the region's total export trade dollar value in 2023.

U.S. Export Price Indexes: Miscellaneous Manufacturing

  • Export miscellaneous manufacturing prices advanced 0.3 percent in February.
  • The index for export miscellaneous manufacturing prices rose 3.1 percent over the past year.
  • A 4.5-percent increase in prices for medical equipment and supplies manufacturing contributed to the 12-month rise in miscellaneous manufacturing export prices.

U.S. Export Price Indexes: Primary Metal Manufacturing

  • Prices for export primary metal manufacturing declined 1.0 percent in February.
  • The export price index for primary metal manufacturing decreased 6.7 percent from February 2023 to February 2024.
  • A 6.5-percent decline in prices for nonferrous metal (except aluminum) production and processing contributed to the 12-month drop in primary metal manufacturing prices.

U.S. Export Price Indexes: Chemical Manufacturing

  • Export chemical manufacturing prices increased 0.8 percent in February.
  • The price index for chemical manufacturing exports declined 3.0 percent over the past year.
  • A 13.3-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 0.4 percent in February.
  • Despite the monthly advance, export computer and electronic product manufacturing prices decreased 0.5 percent for the 12 months ended February 2024.
  • A 3.5-percent decline in prices for semiconductor and other electronic component manufacturing led the 12-month drop in the price index for computer and electronic product manufacturing.

 

New York-New Jersey Information Office • BLSInfoNY@bls.gov • https://www.bls.gov/regions/new-york-new-jersey/ • 646-264-3600 

 

Last Modified Date: March 22, 2024