Nicknamed “The Bay State” and located in America’s northeastern region known as New England, the Commonwealth of Massachusetts shipped US$32.7 billion worth of exported products around the globe in 2022.

That dollar amount represents a 25.1% increase from $26.1 billion four years earlier in 2018.

Year over year, the overall value of goods exported from Massachusetts flatlined via a 0.9% upturn compared to $32.4 billion during 2021.

Looking ahead to 2023, the value of Massachusettsan exports from January to June 2023 totaled $19.4 billion. The dollar sum for exports from Massachusetts is projected to be an annualized $38.8 billion, rising by 18.7% versus the $32.7 billion for 2022.

Massachusetts ranks among America’s 25 biggest exporters by state lagging front-runners including Texas, California, Louisiana, New York State and Illinois. The value of Massachusetts’ exports equals 1.6% of the United States’ overall exported products for 2022, down from 1.8% one year prior.

Based on metrics from Statista, Massachusetts’ exported products represent 6% of the state’s total economic output or real Gross Domestic Product in 2022 ($543.9 billion).

Given Massachusetts’ population of 6.982 million people, its total $32.7 billion in 2022 exports translates to roughly $4,700 for every resident in the Bay State. That dollar metric shades the average $4,600 per capita one year earlier during 2021.

Massachusetts’ unemployment rate was 2.5% in July 2023, down from 3.4% in September 2022 per YCharts.

Massachusetts’ Top 10 Exports

The following export products represent the highest dollar value in Massachusetts global shipments during 2022. Also shown is the percentage share each export category represents in terms of overall exports from Massachusetts.

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

1. Machinery for making semi-conductors: US$1.9 billion (5.8% of Massachusetts’ total exports)
2. Human medicine vaccines: $1.7 billion (5.1%)
3. Medical, dental, veterinarian instruments: $1.3 billion (4%)
4. Liquid filters, purification machines: $1.22 billion (3.7%)
5. Miscellaneous electronic integrated circuits: $1.16 billion (3.5%)
6. Medical needles, catheters: $915.2 million (2.8%)
7. Mixed immunological products: $735.1 million (2.2%)
8. Parts or accessories for semi-conductor making machines: $709.3 million (2.2%)
9. Diagnostic or laboratory reagents: $685.1 million (2.1%)
10. Civilian aircraft, engines, other parts: $491.3 million (1.5%)

Massachusetts’ top 10 exports generated about a third (33%) of the overall value of the state’s global shipments.

Parts or accessories for semi-conductor making machines posted the fastest annual growth among Massachusetts’ top 10 export categories, up by 47.1% from 2021.

In second place were mixed immunological products (up 38.5%), trailed by liquid filters and purification machines (up 17.9%), medical, dental or veterinarian instruments (up 16%), then machinery for making semi-conductors (up 14.7%).

Exports from Massachusetts for civilian aircraft or aircraft engines and other parts recorded the severest year-over-year decline, down -16.3% from 2021.

More Key Facts about Massachusetts’ International Trade

Massachusetts incurred an overall -US$16.6 billion deficit exporting and importing products during 2022. That dollar amount expanded by 42.9% compared to -$11.6 billion in red ink in 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 Massachusetts’ top 10 import products highlighting the state’s highest spending on foreign-made goods in 2022.

1. Light petroleum oils: $3.8 billion (7.7% of Massachusetts’ total imports)
2. Miscellaneous electronic integrated circuits: $1.98 billion (4%)
3. Refined petroleum oils (not biodiesel): $1.92 billion (3.9%)
4. Artificial joints, parts and accessories: $1.74 billion (3.5%)
5. Miscellaneous precious-metal articles: $1.3 billion (2.6%)
6. Medical, dental, veterinarian instruments: $1.2 billion (2.4%)
7. Miscellaneous medicines packaged for retail sale: $951.3 million (1.9%)
8. Natural gas (in gaseous state): $899.7 million (1.8%)
9. Medium-size motor vehicles (piston engine): $729.6 million (1.5%)
10. Medical needles, catheters: $613.8 million (1.2%)

Massachusetts has highly negative net exports in the international trade of petroleum and automobiles. In turn, these cashflows indicate Massachusetts’ competitive disadvantages under those product categories.

Massachusetts’ Major Trading Partners

The following list shows the top 10 customers that purchase almost two-thirds (64.6%) worth of the total value of products exported from Massachusetts during 2022.

1. Canada: $3.67 billion (11.23% of Massachusetts’ total exports)
2. China: $3.66 billion (11.18%)
3. Mexico: $2.9 billion (8.8%)
4. Germany: $2.17 billion (6.6%)
5. Netherlands: $2.05 billion (6.3%)
6. South Korea: $1.62 billion (5%)
7. Japan: $1.56 billion (4.8%)
8. Taiwan: $1.28 billion (3.9%)
9. France: $1.15 billion (3.5%)
10. United Kingdom: $1.1 billion (3.3%)

Massachusetts’ top trade partners in Asia (mainland China, South Korea, Japan and Taiwan) imported about one-quarter (24.8%) of the overall value of exported goods from the Bay State.

Asia’s percentage compares with 20% of exports from Massachusetts which arrived in Canada and Mexico, fellow North American trade partners.

Another 19.7% went to top Massachusettsan customers in Europe (Germany, Netherlands, France and the United Kingdom).

Massachusettsan Export Companies

Over 40 Massachusetts-based corporations rank among Fortune 1000 Companies, a list that showcases America’s largest businesses. Selected examples are shown below.

• Analog Devices, Inc (semiconductors, data conversion technology)
• Biogen (biotechnology therapies)
• Boston Scientific Corp (medical devices)
• Cabot Corp (specialty chemicals, materials)
• Nuance Communications (specialty software, speech recognition)
• PerkinElmer, Inc (analytical instruments, lab technology)
• Skyworks Solutions (semiconductors, amplifiers)
• Thermo Fisher Scientific (genetic testing, precision lab equipment)
• Waters Corp (laboratory instruments, software)
• Wayfair, Inc (ecommerce seller of home products)

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

The capital of Massachusetts is Boston, a city nicknamed “Beantown”, “America’s Walking City” and “The City of Champions”.

See also Oklahoma’s Top 10 Exports, Alaska’s Top 10 Exports, Oregon’s Top 10 Exports, Louisiana’s Top 10 Exports and Washington State’s Top 10 Exports

Research Sources:
FlagPictures.org, Flags of US States. Accessed on August 30, 2023

Forbes, Global 2000 rankings, The World’s Biggest Public Companies. Accessed on August 30, 2023

GeoLounge, Fortune 1000 Companies List for 2018 , Fortune 1000 by State and Place. Accessed on August 30, 2023

International Trade Centre, Trade Map. Accessed on August 30, 2023

Investopedia, Net Exports Definition. Accessed on August 30, 2023

Statista, Real gross domestic product of Massachusetts. Accessed on August 30, 2023

United States Census Bureau, QuickFacts: Massachusetts. Accessed on August 30, 2023

USA Trade Online, Official Source of Trade Statistics. Accessed on August 30, 2023

Wikipedia, Massachusetts. Accessed on August 30, 2023

Wikipedia, List of Massachusetts Companies. Accessed on August 30, 2023

Wikipedia, List of U.S. states and territories by GDP. Accessed on August 30, 2023

World’s Capital Cities, Capital Facts for Boston, United States. Accessed on August 30, 2023

YCharts, Regional and State Employment and Unemployment Report. Accessed on August 30, 2023