Nicknamed the “Silver State” and “Sagebrush State” located in America’s Western, Mountain West and Southwestern regions, Nevada shipped US$11.1 billion worth of goods around the globe in 2018. That dollar amount reflects a -8.9% dip from 2017 to 2018 but a 27.9% gain since 2015.
Nevada is America’s 32nd-biggest exporter by state behind front-runners including Texas, California, New York and Washington states. The value of Nevada’s exports equals 0.7% of United States’ overall exported products for 2018.
Based on statistics from the US Department of Commerce’s Bureau of Economic Analysis (BEA), Nevada’s exported products represent 6.6% of the state’s total economic output or real Gross Domestic Product in 2018 ($168.8 billion in current dollars based on BEA statistics).
Given Nevada’s population of 3.034 million people, its total $11.1 billion in 2018 exports translates to roughly $3,700 for every resident in the Silver State.
Nevada’s unemployment rate was 4% at April 2019 down from 4.9% as of March 2018, per YCharts.
Nevada’s Top 10 Exports
The following export products represent the highest dollar value in Nevada global shipments during 2018. 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$4.9 billion (44.4% of Nevada’s total exports)
- Games operated by token/coin/credit card: $720 million (6.5%)
- Integrated circuits (excluding processors/controllers): $552 million (5%)
- Copper ores, concentrates: $446 million (4%)
- Integrated circuits (processors/controllers): $321 million (2.9%)
- Miscellaneous coins: $242 million (2.2%)
- Cell phones: $185 million (1.7%)
- Aircraft including engines, parts: $179 million (1.6%)
- Measuring/checking instruments, appliances: $147 million (1.3%)
- Lithium ion batteries: $131 million (1.2%)
Nevada’s top 10 exports accounted for over two-thirds (70.8%) of the overall value of the state’s global shipments.
Cell phones was the fastest-growing among the top 10 export categories, up by 83.2% from 2017 to 2018.
In second place for improving export sales was lithium ion batteries which rose 35.1%.
Nevada’s shipments of copper ores and concentrates posted the third-fastest gain in value up by 22.2%.
The lone decliner among Nevada’s top 10 export products was unwrought gold via its -21.8% year-over-year decrease.
More Key Facts
Overall, Nevada incurred a -$714 million deficit exporting and importing products during 2018. That dollar amount reflects a 466.7% year-over-year increase from $126 million in red ink for 2016.
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 2018.
- Integrated circuits (excluding processors/controllers): $1 billion (8.8% of Nevada’s total imports)
- Games operated by token/coin/credit card: $604 million (5.1%)
- Diamonds (unmounted): $393 million (3.3%)
- Large aircraft: $369 million (3.1%)
- Integrated circuits (processors/controllers): $332 million (2.8%)
- Computer parts and accessories: $296 million (2.5%)
- Cell phones: $254 million (2.2%)
- Digital processing units (individual components): $196 million (1.7%)
- Unknit men’s cotton trousers: $192 million (1.6%)
- Miscellaneous liquor: $176 million (1.5%)
Nevada has negative net exports in the international trade of electronic circuits, diamonds and large aircraft. In turn, these cashflows indicate Nevada’s competitive disadvantages under these product categories.
The following list shows the top 10 customers that purchased 81.1% worth of the total value of products exported from Nevada during 2018.
- Switzerland: $3.4 billion (30.8% of Nevada’s total exports)
- India: $1.7 billion (15.1%)
- Canada: $1.2 billion (10.7%)
- China: $917 million (8.3%)
- Mexico: $589 million (5.3%)
- Germany: $355 million (3.2%)
- Hong Kong: $249 million (2.2%)
- Japan: $247 million (2.2%)
- Australia: $197 million (1.8%)
- United Kingdom: $171 million (1.5%)
Nevada’s top trade partners in North America (Canada and Mexico) bought 16% of the overall value of exported goods from the Silver State. That percentage compares with 35.5% from top suppliers in Europe (Switzerland, Germany, UK).
Nevada 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)
- Scientific Games Corp (gaming machines, systems, internet apps)
- Wynn Resorts (casinos, hotels)
- Caesars Entertainment Corp (casinos, hotels)
- MGM Resorts International (casinos, hotels)
- Las Vegas Sands Corp (casinos, hotels)
Shown within brackets for each company is a summary of the products or services which each business sells, some of which are international trade-related.
Nevada’s capital is Carson City, a city nicknamed “CC”, “Carson” and “The Capitol”.
See also America’s Top 20 Export States, United States Top 10 Exports and Top United States Trade Balances
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