That dollar amount results from a 10.8% gain from $9.1 billion four years earlier during 2019.
Year over year, the overall value of Nevadan exports fell via a -4.3% drop compared to $10.5 billion during 2021.
Nevada ranks among America’s 35 most lucrative exporters by state behind front-runners including Texas, California, Louisiana, New York State and Illinois. The value of Nevada’s exports equals 0.6% of United States’ overall exported products for 2022.
Based on research from Statista, Nevada’s exported products represent 6.1% of the state’s total economic output or real Gross Domestic Product in 2022 ($165.5 billion).
Given Nevada’s population of 3.178 million people, its total $10.1 billion in 2022 exports translates to roughly $3,200 for every resident in the Silver State. That dollar metric falls below the average $3,400 per capita one year earlier in 2021.
Nevada’s unemployment rate was 5.5% at the end of March 2023, up from 5.3% at February 2022 per YCharts.
Nevada’s Top 10 Exports
The following export products represent the highest dollar value in Nevada global shipments during 2022. Also shown is the percentage share each export category represents in terms of overall exports from Nevada.
Figures are shown at the more granular six-digit Harmonized Tariff System code level, for more precise product identification.
- Gold (unwrought): US$2.2 billion (22% of Nevada’s total exports)
- Electronic integrated circuits: $854.6 million (8.5%)
- Copper ores, concentrates: $708.1 million (7%)
- Integrated circuits (processors/controllers): $472.8 million (4.7%)
- Computer parts and accessories: $390.8 million (3.9%)
- Coin, token or card-operated games: $334.5 million (3.3%)
- Solid-state semiconductor storage devices: $258.4 million (2.6%)
- Lithium ion batteries: $223.1 million (2.2%)
- Miscellaneous coins (legal tender): $217.5 million (2.2%)
- Non-gold coins (not legal tender): $153.2 million (1.5%)
Nevada’s top 10 exports represent almost three-fifths (57.8%) of the overall value of the state’s global shipments.
Coin, token or card-operated games represent the fastest grower among the top 10 export categories, up by 108.5% from 2021 to 2022.
In second place for improving export sales were miscellaneous coins used as legal currency which rose 11.5% from 2021.
Nevada’s shipments of electronic integrated circuits recorded the third-fastest gain in value up by 9.3%, ahead of exported copper ores and concentrates (up 4.6%).
The greatest decline from 2021 was the -45.4% downturn for Nevadan exports of computer parts or accessories.
More Key Facts about Nevada’s International Trade
Overall, Nevada incurred an -$8.9 billion deficit exporting and importing products during 2022. That dollar amount reflects a 59.4% expansion from -$5.6 billion in red ink for 2021.
Another way of saying surplus or deficit is positive or negative net exports. In a nutshell, the term “net exports” quantifies the amount by which foreign spending on a state’s goods or services exceeds or lags that same state’s spending on foreign goods or services.
Below are Nevada’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2022.
- Electronic integrated circuits: US$1.8 billion (9.5% of Nevada’s total imports)
- Smartphones: $1.23 billion (6.4%)
- Parts of electric storage batteries: $770.1 million (4%)
- Chemical industry products, residuals: $588.4 million (3.1%)
- Games operated by token/coin/card: $538.9 million (2.8%)
- Computer parts, accessories: $445.8 million (2.3%)
- Processors, controllers for electronic integrated circuits: $394.7 million (2.1%)
- Lithium ion batteries: $365.6 million (1.9%)
- Static converters, ADP power supplies: $328.2 million (1.7%)
- Non-gold coins (not legal tender): $290.2 million (1.5%)
Nevada has negative net exports in the international trade of smartphones, electronic circuits, electric storage battery parts and computer parts or accessories. In turn, these cashflows indicate Nevada’s competitive disadvantages under these product categories.
Nevada’s Major Trade Partners
The following list shows the top 10 customers that purchased over three-quarters (76.4%) worth of the total value of products exported from Nevada during 2022.
- Canada: US$1.9 billion (18.6% of Nevada’s total exports)
- Switzerland: $1.5 billion (14.7%)
- Mexico: $1.2 billion (12%)
- mainland China: $937.7 million (9.3%)
- India: $821 million (8.1%)
- Hong Kong: $333.8 million (3.3%)
- South Korea: $306.4 million (3%)
- Germany: $269.3 million (2.7%)
- Australia: $258.9 million (2.6%)
- Hungary: $206.6 million (2%)
Nevada’s top trade partners in North America (Mexico and Canada) generated 30.6% of the overall value of exported goods generated from the Silver State.
Major trade partners in Europe (Switzerland, Germany and Hungary) were responsible for another 22%.
Those percentages compare to 23.8% for the leading importers located in Asia (mainland China, India, Hong Kong and South Korea).
Nevadan Export Companies
Nine of Nevada-based corporations rank among Fortune 1000 Companies, a list that showcases America’s largest businesses. Selected examples are listed below.
- Boyd Gaming Corp (casinos, hotels)
- Caesars Entertainment Corp (casinos, hotels)
- Las Vegas Sands Corp (casinos, hotels)
- MGM Resorts International (casinos, hotels)
- Scientific Games Corp (gaming machines, systems, internet apps)
- Wynn Resorts (casinos, hotels)
Shown within brackets for each company is a summary of the products or services which each business sells, some of which are related to international trade.
Nevada’s capital is Carson City, a city nicknamed “CC”, “Carson” and “The Capitol”.
See also Rhode Island’s Top 10 Exports, New Jersey’s Top 10 Exports, Missouri’s Top 10 Exports, Pennsylvania’s Top 10 Exports and Mississippi’s Top 10 Exports
Research Sources:
Department of Numbers, Nevada GDP (dollars shown in real terms). Accessed on May 9, 2023
FlagPictures.org, Flags of US States. Accessed on May 9, 2023
Forbes, Global 2000 rankings, The World’s Biggest Public Companies. Accessed on May 9, 2023
GeoLounge, Fortune 1000 Companies List for 2019 , Fortune 1000 by State and Place. Accessed on May 9, 2023
International Trade Centre, Trade Map. Accessed on May 9, 2023
Investopedia, Net Exports Definition. Accessed on May 9, 2023
State Symbols USA, State Nicknames. Accessed on May 9, 2023
Statista, Real gross domestic product of Nevada. Accessed on May 9, 2023
United States Census Bureau, QuickFacts: Nevada. Accessed on May 9, 2023
USA Trade Online, Official Source of Trade Statistics. Accessed on May 9, 2023
Wikipedia, Companies based in Nevada. Accessed on May 9, 2023
Wikipedia, List of U.S. states and territories by GDP. Accessed on May 9, 2023
Wikipedia, Nevada. Accessed on May 9, 2023
World’s Capital Cities, Capital Facts for Carson City, United States. Accessed on May 9, 2023
YCharts, Regional and State Employment and Unemployment Report. Accessed on May 9, 2023