New Hampshire’s Top 10 Exports

New Hampshire state flag courtesy of FlagPictures.org

New Hampshire flag

Nicknamed “The Granite State” and “The White Mountain State” located in the New England region within America’s northeast, New Hampshire shipped US$5.1 billion worth of goods around the globe in 2017. That dollar amount represents a 24.3% uptick from 2016 to 2017 and a 21.6% gain since 2014.

New Hampshire is America’s 39th-biggest exporter by state behind front-runners Texas, California, Washington and New York state. The value of New Hampshire’s exports equals 0.3% of United States’ overall exported products for 2017.

Based on statistics from the US Department of Commerce’s Bureau of Economic Analysis (BEA), New Hampshire’s exported products represent 7.4% of the state’s total economic output or real Gross Domestic Product in 2016. The latter real dollar values were expressed in 2009 chained dollars, according to the BEA.

Given New Hampshire’s population of 1.343 million people, its total $5.1 billion in 2017 exports translates to roughly $3,800 for every resident in the Granite State.

New Hampshire’s unemployment rate was 2.6% as of March 2018 per YCharts.

New Hampshire’s Top 10 Exports

Top 10

The following export products represent the highest dollar value in New Hampshire global shipments during 2017. Also shown is the percentage share each export category represents in terms of overall exports from New Hampshire.

Figures are shown at the more granular six-digit Harmonized Tariff System code level, for more precise product identification.

  1. Aircraft including engines, parts: US$493 million (9.6% of New Hampshire’s total exports)
  2. Modems, similar reception/transmission devices: $332 million (6.4%)
  3. Insulated optical fiber cables: $291 million (5.7%)
  4. Medicines (not in dosage): $263 million (5.1%)
  5. Office machine parts and accessories: $249 million (4.8%)
  6. Machine tool parts, accessories: $145 million (2.8%)
  7. Cell phones: $116 million (2.2%)
  8. Cell phone equipment parts: $113 million (2.2%)
  9. Printers/copies/fax machines: $85 million (1.6%)
  10. Miscellaneous printed matter: $78 million (1.5%)

New Hampshire’s top 10 exports accounted for 41.9% of the overall value of the state’s global shipments.

Miscellaneous printed matter was the fastest-growing among the top 10 export categories, up by 358.8% from 2016.

In second place for improving export sales was modems and similar reception/transmission devices which rose 114.2%.

New Hampshire’s shipments of aircraft including engines and other parts posted the third-fastest gain in value, up by 109.8%.

The leading decliner among New Hampshire’s top 10 export products was cell phones which retreated -25.6% year over year.

More Key Facts

Overall, New Hampshire incurred a -$6.2 billion deficit exporting and importing products during 2017. That dollar amount reflects a 39% year-over-year increase from -$4.5 billion in red ink in 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 New Hampshire’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2017.

  1. Light petroleum oils: $2.7 billion (24.1% of New Hampshire’s total imports)
  2. Turbo-jet parts: $1.8 billion (15.7%)
  3. Miscellaneous petroleum oils: $1.3 billion (11.2%)
  4. Petroleum bitumen: $221 million (1.9%)
  5. Footwear (upper leather): $220 million (1.9%)
  6. Refined petroleum oils: $192 million (1.7%)
  7. Medical/dental/veterinarian instruments: $145 million (1.3%)
  8. Plastic plates, sheets: $131 million (1.1%)
  9. Ball or roller gears: $124 million (1.1%)
  10. Footwear (rubber/plastic/leather outer soles): $96 million (0.8%)

New Hampshire has highly negative net exports in the international trade of petroleum oils and turbo-jet parts. In turn, these cashflows indicate New Hampshire’s competitive disadvantages under these product categories.

Partners

The following list shows the top 10 customers that purchase 62.2% worth of the total value of products exported from New Hampshire during 2017.

  1. Canada: $576 million (11.2% of New Hampshire’s total exports)
  2. Mexico: $481 million (9.3%)
  3. China: $423 million (8.2%)
  4. Ireland: $369 million (7.2%)
  5. Germany: $325 million (6.3%)
  6. Japan: $248 million (4.8%)
  7. United Kingdom: $202 million (3.9%)
  8. France: $200 million (3.9%)
  9. Spain: $192 million (3.7%)
  10. Saudi Arabia: $190 million (3.7%)

New Hampshire’s top trade partners in North America (Canada and Mexico) purchase 20.5% of the overall value of exported goods from the Granite State.

Companies

New Hampshire Export Companies

Two New Hampshire-based corporations rank among Fortune 1000 Companies in 2017, a list that showcases America’s largest businesses. These are listed below.

  • PC Connection (computer hardware, software, services)
  • Sprague Resources LP (petroleum, natural gas)

Shown within brackets for each company is a summary of the international trade-related products or services which each business sells.



 
New Hampshire’s capital is Concord, a city named to reflect the “concord” (harmonious agreement) in 1765 resolving a bitter dispute over land boundaries.

See also America’s Top 20 Export States, United States Top 10 Exports and Top United States Trade Balances

Research Sources:
Department of Numbers, New Hampshire GDP (dollars shown in real terms). Accessed on May 9, 2018

FlagPictures.org, Flags of US States. Accessed on May 9, 2018

Forbes, 2016 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on May 9, 2018

GeoLounge, Fortune 1000 Companies List for 2016 , Fortune 1000 by State and Place. Accessed on May 9, 2018

International Trade Centre, Trade Map. Accessed on May 9, 2018

Investopedia, Net Exports Definition. Accessed on May 9, 2018

State Symbols USA, State Nicknames. Accessed on May 9, 2018

United States Census Bureau, QuickFacts: New Hampshire. Accessed on May 9, 2018

Wikipedia, New Hampshire. Accessed on May 9, 2018

Wikipedia, Categories:Companies based in New Hampshire. Accessed on May 9, 2018

World’s Capital Cities, Capital Facts for Concord, United States. Accessed on May 9, 2018

YCharts, Regional and State Employment and Unemployment Report. Accessed on May 9, 2018