Nicknamed “Old Dominion” located in America’s Southeastern and Mid-Atlantic regions, the Commonwealth of Virginia shipped US$25 billion worth of products around the world in 2022.

That dollar amount represents a 40.4% increase from $17.8 billion four years earlier in 2019.

Year over year, the overall value of Virginian exports grew by 24.9% compared to $20 billion during 2021.

Virginia ranks among America’s 25 biggest exporters by state well behind front-runners including Texas, California, Louisiana, New York and Illinois. The value of Virginia’s exports equals 1.2% of the United States’ overall exported products for 2022, up from 1% one year prior.

Based on research from Statista, Virginia’s exported products represent 4.9% of the state’s total economic output or real Gross Domestic Product ($512.95 billion).

Given Virginia’s population of 8.657 million people, its total $25 billion in 2022 exports translates to roughly $2,900 for every resident in the Old Dominion state. That dollar metric exceeds the average $2,300 per capita for 2021.

Virginia’s unemployment rate was 3.2% in March 2023, down from 5.1% for March 2022 per YCharts.

Virginia’s Top 10 Exports

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

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

1. Coal (non-agglomerated, bituminous): US$5.8 billion (23.2% of Virginia’s total exports)
2. Soya beans: $1.7 billion (6.7%)
3. Electronic integrated circuits (memories): $636.2 million (2.5%)
4. Chemical woodpulp, soda: $499.5 million (2%)
5. Solid residues including soya bean oil-cake: $375.2 million (1.5%)
6. Self-adhesive plastic plates, sheets, film: $343.7 million (1.4%)
7. Semi-trailer road tractors: $337 million (1.3%)
8. Civilian aircraft or engines, parts: $314.2 million (1.3%)
9. Office machine parts and accessories: $303.9 million (1.2%)
10. Kraft paper, paperboard: $274.5 million (1.1%)

Virginia’s top 10 exports accounted for over two-fifths (42.3%) of the overall value of the state’s global shipments.

Chemical woodpulp and soda represent the fastest grower among Virginia’s top 10 export categories, up by 143.6% from 2021 to 2022.

In second place were exports of non-agglomerated bituminous coal (up 81.1%) trailed by solid residues including soya bean oil-cake (up 60.5%), soya beans (up 49.9%), then civilian aircraft fully assembled or engines and other parts separately (up 24.6%).

There was a trio of decliners among Virginia’s top 10 export products. The laggards were exported self-adhesive plastic plates, sheets and film (down -20.4% from 2021), office machine parts and accessories (down -12%), then memories for electronic integrated circuits (down -7.9%).

More Key Facts about Virginia’s International Trade

Virginia incurred an overall -$14.6 billion trade deficit exporting and importing products during 2022. That dollar amount reflects a -0.9% year-over-year dip from -$14.7 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 Virginia’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2022.

1. Office machine parts and accessories: US$2.2 billion (5.6% of Virginia’s total imports)
2. Digital processing units (individual components): $2 billion (5.1%)
3. Miscellaneous aircraft parts: $1.3 billion (3.3%)
4. Wheeled toys (tricycles, scooters, pedal cars, carriages): $672.7 million (1.7%)
5. Mid-sized passenger vehicles (piston engine): $519.1 million (1.3%)
6. Multi-purpose office print/copy/fax machines: $424.1 million (1.1%)
7. Cotton sweaters, pullovers: $330.9 million (0.8%)
8. Vacuum cleaners (electric motors): $301.6 million (0.8%)
9. Miscellaneous wooden furniture: $298.9 million (0.8%)
10. Semi-trailer road tractors: $293.8 million (0.7%)

Virginia has negative net exports in the international trade of office machine parts and accessories and individual components for digital processing units. In turn, these cashflows indicate Virginia’s competitive disadvantages under these product categories.

Virginia’s Major Trading Partners

The following list shows the top 10 customers that purchased some three-fifths (60.6%) worth of the total value of products exported from Virginia during 2022.

1. Canada: US$3.46 billion (13.8% of Virginia’s total exports)
2. mainland China: $2.8 billion (11.2%)
3. India: $2.3 billion (9.2%)
4. Netherlands: $1.5 billion (5.9%)
5. Mexico: $1.13 billion (4.5%)
6. Germany: $989.7 million (4%)
7. Brazil: $807.3 million (3.2%)
8. Japan: $761.9 million (3%)
9. Taiwan: $731.2 million (2.9%)
10. United Kingdom: $698.7 million (2.8%)

Virginia’s top trade partners in Asia (mainland China, India, Japan and Taiwan) purchased over one-quarter (26.4%) of the overall value of exported goods from the state commonly called “Old Dominion”.

In comparison, 18.3% worth originated from Virginia’s major customers in North America (Canada and Mexico Taiwan). Another 12.7% was sold to leading importers in Europe (Germany, Netherlands and the UK).

Virginian Export Companies

Thirty-six of Virginia-based corporations rank among Fortune 1000 Companies, a list that showcases America’s largest businesses. Selected examples are listed below.

• Advance Auto Parts (auto parts, accessories)
• Altria Group (tobacco products)
• Beacon Roofing Supply (building supplies)
• CACI International Inc (technology, professional services)
• Computer Sciences Corp (technology, professional services)
• Huntington Ingalls Industries (ships,submarines, aircraft carriers)
• NewMarket Corp (petroleum additives)
• Orbital ATK Inc (aerospace, defense industry products)
• Performance Food Group (food products, snacks)
• Universal Corp (tobacco products)

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

Virginia’s capital is Richmond, a city nicknamed “RVA”, “The River City” and “Capital of the South”.

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

Research Sources:
Department of Numbers, Virginia GDP (dollars shown in real terms). Accessed on April 28, 2023

FlagPictures.org, Flags of US States. Accessed on April 28, 2023

Forbes, Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 28, 2023

GeoLounge, Fortune 1000 Companies List for 2019 , Fortune 1000 by State and Place. Accessed on April 28, 2023

International Trade Centre, Trade Map. Accessed on April 28, 2023

Investopedia, Net Exports Definition. Accessed on April 28, 2023

Statista, Real gross domestic product of Virginia. Accessed on April 28, 2023

United States Census Bureau, QuickFacts: Virginia. Accessed on April 28, 2023

USA Trade Online, Official Source of Trade Statistics. Accessed on April 28, 2023

Wikipedia, Category:Companies based in Virginia. Accessed on April 28, 2023

Wikipedia, List of U.S. states and territories by GDP. Accessed on April 28, 2023

Wikipedia, Virginia. Accessed on April 28, 2023

World’s Capital Cities, Capital Facts for Richmond, United States. Accessed on April 28, 2023

YCharts, Regional and State Employment and Unemployment Report. Accessed on April 28, 2023