That dollar amount results from a 20% increase from $5.3 billion four years earlier in 2018.
Year over year, the overall value of goods exported from New Hampshire gained 16.7% compared to $5.46 billion for 2020.
Looking ahead to 2022, the value of New Hampshire’s exports from January to August 2022 totaled $4.83 billion. The dollar sum of exports from New Hampshire is projected to be an annualized $7.245 billion increasing by 13.8% from the $6.4 billion for 2021.
New Hampshire ranks among America’s 40 most lucrative exporters by state lagging front-runners including Texas, California, New York state and Louisiana. The value of New Hampshire’s exports equals 0.4% of United States’ overall exported products for 2021.
Based on statistics from the US Department of Commerce’s Bureau of Economic Analysis (BEA), New Hampshire’s exported products represent 6.5% of the state’s total economic output or real Gross Domestic Product in 2021 ($98.2 billion in current dollars based on BEA statistics). That percentage compares with 6.4% one year earlier.
Given New Hampshire’s population of 1.389 million people, its total $6.4 billion in 2021 exports translates to roughly $4,600 for every resident in the Granite State. That dollar metric reflects an uptick from the average $4,000 per capita in 2020.
New Hampshire’s unemployment rate was 2.2% in September 2022, down from the state’s long-term average jobless rate of 4.3% per YCharts.
New Hampshire’s Top 10 Exports
The following export products represent the highest dollar value in New Hampshire global shipments during 2021. 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.
- Aircraft, aircraft parts including engines: US$1.1 billion (17.4% of New Hampshire’s exports)
- Cell phones: $389.5 million (6.1%)
- Mixed medicines (not in dosage): $243.4 million (3.8%)
- Office machine parts, accessories: $240.1 million (3.8%)
- Machine tool parts, accessories: $182.8 million (2.9%)
- Small portable digital computers: $167.4 million (2.6%)
- Modems, other reception/transmission equipment: $138.4 million (2.2%)
- Miscellaneous plastic items: $108.4 million (1.7%)
- Antennas, reflectors including parts: $105.2 million (1.7%)
- Mixed immunological products (not in dosage): $104.3 million (1.6%)
New Hampshire’s top 10 exports accounted for 43.8% of the overall value of the state’s global shipments.
Mixed immunological products not in measured doses represent the fastest grower among the top 10 export categories, up by 148.5% from 2020 to 2021.
In second place for improving export sales were cell phones which rose 131.4%. New Hampshire’s shipments of modems and other reception or transmission equipment posted the third-fastest gain in value, up by 79.1%.
There were two decliners year over year among New Hampshire’s top 10 export products. Exports of antennas and reflectors either fully assembled or parts shrank -39% while shipments of miscellaneous medicines not in measured doses dropped -25.5%.
More Key Facts about New Hampshire’s International Trade
New Hampshire incurred an overall -$1.74 billion deficit exporting and importing products during 2021. That dollar amount reflects a 16% annual expansion from -$1.5 billion in red ink in 2020.
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 2021.
- Turbo-jet parts: $1.98 billion (24.4% of New Hampshire’s imports)
- Miscellaneous petroleum oils not biodiesel: $331.8 million (4.1%)
- Plastic plates, sheets, foil, film, strips: $164.8 million (2%)
- Gears, gear boxes, ball or roller screws: $141.7 million (1.7%)
- Footwear covering ankle (rubber/plastic/ leather outer soles): $128.7 million (1.6%)
- Modems, similar reception/transmission devices: $103 million (1.3%)
- Coniferous wood sawn or chipped length-wide: $97.5 million (1.2%)
- Frozen crabs: $95.4 million (1.2%)
- Petroleum bitumen: $88.5 million (1.1%)
- Miscellaneous optical devices $81.6 million (1%)
New Hampshire has highly negative net exports in the international trade of turbo-jet or turbo-propeller parts, as well as petroleum-related goods. In turn, these cashflows indicate New Hampshire’s competitive disadvantages under those product categories.
New Hampshire’s Major Trade Partners
The following list shows the top 10 customers that purchased over two-thirds (69%) worth of the total value of products exported from New Hampshire during 2021.
- Germany: $915.3 million (14.4% of New Hampshire’s exports)
- Canada: $908.7 million (14.3%)
- United Arab Emirates: $503.6 million (7.9%)
- Mexico: $399.8 million (6.3%)
- China: $396.1 million (6.2%)
- Ireland: $335.1 million (5.3%)
- Hong Kong: $283 million (4.4%)
- Japan: $269.4 million (4.2%)
- Netherlands: $201.4 million (3.2%)
- France: $176.6 million (2.8%)
New Hampshire’s top trade partners in North America (Canada and Mexico) bought 20.6% of the state’s overall export sales.
That percentage lags the 25.6% share for major purchasers from Europe (Germany, Ireland, Netherlands and France), and the growing 22.8% share of leading importer in Asia plus the Middle East (United Arab Emirates, mainland China, Hong Kong and Japan).
New Hampshirite Export Companies
Two New Hampshire-based corporations rank among Fortune 1000 Companies, 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 Indiana’s Top 10 Exports, Nebraska’s Top 10 Exports, Wisconsin’s Top 10 Exports, Delaware’s Top 10 Exports and Vermont’s Top 10 Exports
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