That dollar amount reflects a tepid 1.1% increase over the 4-year period starting with $90.2 billion for 2021.
Year over year, the overall value of exports from New York declined by -8.8% compared to $100.1 billion during 2023.
In 2024, New York was America’s third-biggest exporter by state behind Texas and California but ahead of Louisiana, Illinois and Florida. The value of New York’s exports equals 4.8% of the United States’ overall exported products for 2024, down from 5.2% for 2023.
New York’s exported products represent an estimated 4% of the state’s total economic output or nominal Gross Domestic Product in 2024 ($2.297 trillion).
Given New York’s population of 19.9 million people, its total $91.2 billion in 2024 exported products translates to roughly $4,600 for every resident in The Empire State. That dollar metric lags the average $4,950 per capita one year earlier during 2023.
New York’s unemployment rate was 4.2% in March 2025, up from the 4.1% jobless rate in February 2024 per YCharts.
New York’s Top 10 Exports
The following export products represent the highest dollar value in New York global shipments during 2024. Also shown is the percentage share each export category represents in terms of overall exports from New York state.
Figures are shown at the more granular six-digit Harmonized Tariff System code level, for more precise product identification.
- Gold (unwrought): US$12 billion (13.2% of total New Yorker exports)
- Diamonds (unmounted): $9.9 billion (10.9%)
- Jewelry made with precious metals: $7.4 billion (8.2%)
- Hand-drawn paintings, drawings under 101 years old: $4.3 billion (4.8%)
- Rubies, sapphires, emeralds: $2.3 billion (2.5%)
- Civilian aircraft including engines, parts: $1.18 billion (1.3%)
- Hand-drawn paintings, drawings over 100 years old: $1.12 billion (1.2%)
- Original sculptures, statues: $872.3 million (1%)
- Mid-sized automobiles (piston engine): $842.4 million (0.9%)
- Integrated circuits (processors, controllers): $789.7 million (0.9%)
New York’s top 10 export product categories represent 44.8% of the overall value of the state’s global shipments.
The fastest-growing exports from New York in 2024 were precious gems including rubies, sapphires and emeralds propelled by a modest 2.6% gain from 2023.
The other gainer was exports of civilian aircraft or aircraft engines and other parts (up 1.8% from 2023).
The severest decliners among New York’s top 10 export products were unmounted diamonds (down -25.7% from 2023), electronic integrated circuits processors and controllers (down -23.1%), hand-drawn paintings and drawings over 100 years old (down -18.8%), then newer hand-drawn paintings and drawings (down -14.3%).
More Key Facts about New York’s International Trade
New York state incurred an overall -US$68.5 billion deficit exporting and importing products during 2024. That dollar amount results from a 19.9% year-over-year expansion from -$57.1 billion in red ink one year earlier for 2023.
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.
Imports into New York state totaled $159.7 billion for 2024.
Below are New York’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2024.
- Miscellaneous items clad in precious metals: $16.7 billion (10.5% of total New Yorker imports)
- Diamonds (unmounted): $13.8 billion (8.6%)
- Jewelry made with precious metals: $5.8 billion (3.6%)
- Gold (unwrought): $3.2 billion (2%)
- Hand-drawn paintings, drawings under 101 years old: $3 billion (1.9%)
- Wrist watches (base metal): $1.9 billion (1.2%)
- Rubies, sapphires, emeralds: $1.53 billion (1%)
- Hand-drawn paintings, drawings over 100 years old: $1.39 billion (0.9%)
- Perfumes, toilet waters: $1.3 billion (0.8%)
- Wrist watches (precious metal): $1.1 billion (0.7%)
New York has negative net exports in the international trade of miscellaneous items clad in precious metals, and diamonds. In turn, these cashflows indicate New York’s competitive disadvantages under those product categories on New York state’s global balance sheet.
New York’s Major Trading Partners
The following list shows the top 10 trade partners that purchased over two-thirds (69.7%) worth of the total value of products exported from New York state during 2024.
- Canada: $17.4 billion (19.1% of total New Yorker exports)
- Switzerland: $10.1 billion (11.1%)
- Hong Kong: $8.1 billion (8.8%)
- United Kingdom: $5.4 billion (6%)
- Israel: $5.2 billion (5.7%)
- Mexico: $3.75 billion (4.1%)
- Germany: $3.71 billion (4.1%)
- India: $3.67 billion (4%)
- Singapore: $3.3 billion (3.6%)
- mainland China: $3 billion (3.3%)
New York’s top trade partners in North America, namely Canada and Mexico, accounted for almost one-quarter (23.2%) of the overall value of exported goods from the Empire State.
That percentage exceeds the 21.1% share for the leading European countries listed above (Switzerland, United Kingdom and Germany), and 19.7% for leaders from Asian countries (Hong Kong, India, Singapore and mainland China).
New York Export Companies
Forty-five of corporations headquartered in New York state rank among Forbes Global 2000 for 2023. Selected examples are shown below.
- Arconic (aluminum, titanium, nickel)
- Bristol-Myers Squibb (pharmaceuticals)
- Colgate-Palmolive (household products, personal care, pet food)
- Estée Lauder Companies (makeup, skin care, hair care, fragrances)
- L3 Technologies (intelligence, surveillance, reconnaissance systems)
- Pfizer Inc (pharmaceuticals)
- Philip Morris International (cigarettes, other tobacco products)
- PVH (branded clothing)
- Ralph Lauren Corp (clothing, footwear, fragrances, housewares, jewelry)
- Verizon Communications (telecommunications)
Shown within brackets for each company is a summary of the international trade-related products which each business sells.
New York’s capital is Albany, a city nicknamed “Cradle of the Union” or the “518 Cap City” where 518 refers to Albany’s telephone area code.
See also Utah’s Top 10 Exports, California’s Top 10 Exports, Top 10 Exports from Texas and Maine’s Top 10 Exports
Research Sources:
FlagPictures.org, Flags of US States. Accessed on April 24, 2025
Forbes 2021 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 24, 2025
IBIS World, New York – State Economic Profile. Accessed on April 24, 2025
International Trade Centre, Trade Map. Accessed on April 24, 2025
Investopedia, Net Exports Definition. Accessed on April 24, 2025
New York Business Journal, JPMorgan Chase leads the list of 45 New York companies on the new Fortune 500 ranking. Accessed on April 24, 2025
United States Census Bureau, QuickFacts: New York, United States. Accessed on April 24, 2025
USA Trade Online, Official Source of Trade Statistics. Accessed on April 24, 2025
Wikipedia, List of New York Companies. Accessed on April 24, 2025
Wikipedia, List of U.S. states and territories by GDP. Accessed on April 24, 2025
Wikipedia, New York (state). Accessed on April 24, 2025
YCharts, Regional and State Employment and Unemployment Report. Accessed on April 24, 2025