That dollar amount reflects a 37.5% increase from $1.37 billion four years earlier since 2019.
Year over year, the overall value of goods exported from Wyoming accelerated by 31.6% compared to $1.43 billion for 2021.
Wyoming ranks among America’s 3 smallest exporters by state far behind front-runners including Texas, California, Louisiana, New York State and Illinois. The value of Wyoming’s exports equals 0.1% of the United States’ overall exported products for 2022.
Based on research from Statista, Wyoming’s exported products represent 5.2% of the state’s total economic output or real Gross Domestic Product in 2022 ($36.4 billion).
Given Wyoming’s population of 581,381 people, its total $1.88 billion in 2022 exports translates to roughly $3,200 for every resident in the Equality State. That dollar metric exceeds the average $2,500 per capita for 2021.
Wyoming’s unemployment rate was 3.7% at the end of March 2023, up from the state’s jobless rate of 3.3% one year earlier per YCharts.
Wyoming’s Top 10 Exports
The following export products represent the highest dollar value in Wyoming global shipments during 2022. Also shown is the percentage share each export category represents in terms of overall exports from Wyoming.
Figures are shown at the more granular six-digit Harmonized Tariff System code level, for more precise product identification.
- Disodium carbonate: US$1.27 billion (67.7% of Wyoming’s exports)
- Processed petroleum oils (not diesel): $67.9 million (3.6%)
- Bituminous coal (not agglomerated): $63.2 million (3.4%)
- Ammonium dihydrogen orthophosphate: $42 million (2.2%)
- Bentonite including calcined: $37.7 million (2%)
- Biodiesel, petroleum mixes: $33.6 million (1.8%)
- Vehicle bodies for road tractors, vans, cabs: $25.6 million (1.4%)
- Rare gases excluding aragonite: $23.5 million (1.3%)
- Sodium bicarbonate: $23 million (1.2%)
- Derricks/cranes parts, attachments: $21.1 million (1.1%)
Wyoming’s top 10 exports accounted for 85.7% of the overall value of the state’s global shipments.
Processed petroleum oils excluding diesel represent the fastest grower among the state’s top 10 export categories, up by 167% from 2021 to 2022.
In second place for improving export sales was Sodium bicarbonate which gained 159.6%.
The third-fastest advance was the 68.1% uptick for Wyoming’s shipments of non-agglomerated bituminous coal.
Year over year, there was only one decliner among Wyoming’s top 10 export products. Exports of parts and attachments for derricks or cranes fell -2.5% compared to 2021.
More Key Facts about Wyoming’s International Trade
Overall, Wyoming recorded a -$263.6 million deficit exporting and importing products during 2022. That dollar amount results from -3.1% drop from the $272 million trade surplus for 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 Wyoming’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2022.
- Crude petroleum oils: US$695.7 million (43.1% of Wyoming’s imports)
- Miscellaneous electronic machinery: $76.5 million (4.7%)
- Air conditioning machinery: $28.5 million (1.8%)
- Anhydrous ammonia: $28.1 million (1.7%)
- Ammonium nitrate: $25.2 million (1.6%)
- Larger aircraft: $25.1 million (1.3%)
- Processed petroleum oils (not diesel): $20.4 million (1.3%)
- Precious metal jewelry, parts: $14.6 million (0.9%)
- Hunting or target-shooting shotguns: $14.3 million (0.9%)
- Parts for boring or sinking machinery: $14 million (0.9%)
Wyoming has highly negative net exports in the international trade of crude petroleum oils. In turn, these cashflows indicate Wyoming’s competitive disadvantages under that product category.
Wyoming’s Major Trade Partners
The following list shows the top 10 customers that purchased over three-quarters (77.4%) worth of the total value of products exported from Wyoming during 2022.
- Canada: US$393.9 million (21% of Wyoming’s exports)
- Indonesia: $202.4 million (10.8%)
- Chile: $167.3 million (8.9%)
- South Korea: $149.7 million (8%)
- Brazil: $127.9 million (6.8%)
- Malaysia: $94.6 million (5%)
- Vietnam: $94.5 million (5%)
- Australia: $76.6 million (4.1%)
- Thailand: $74 million (3.9%)
- Taiwan: $72.9 million (3.9%)
Wyoming’s top trade partners in Asia (Indonesia, South Korea, Malaysia, Vietnam, Japan, Thailand and Taiwan) bought 36.6% of the overall value of exported goods from the Equality State.
The percentage for leading Asian countries compares with the 23.1% of Wyoming’s overall shipments that were shipped to its North American trade partners (Canada and Mexico).
Another 15.7% was bought by major South American importers (Chile and Brazil).
Wyomingite Export Companies
Not one Wyoming-based corporation ranks among Fortune 1000 Companies, a list that showcases America’s largest businesses.
According to Zippia, below are examples of relatively large companies based in Wyoming.
- Admiral Beverage (soft drinks, bottled water)
- Ciner (soda ash)
- Cloud Peak Energy Inc. (coal mining)
- Simon Contractors (technologies, speciality concrete)
- Wyoming Machinery (heavy machinery)
Shown within brackets for each company is a summary of the international trade-related products or services which each business sells.
Wyoming’s capital is Cheyenne, a city nicknamed the “Frontier City” and “Magic City of the Plains”.
See also Indiana’s Top 10 Exports, South Dakota’s Top 10 Exports, West Virginia’s Top 10 Exports, Colorado’s Top 10 Exports and New Hampshire’s Top 10 Exports
Research Sources:
Department of Numbers, Wyoming GDP (dollars shown in real terms). Accessed on October 31, 2022
FlagPictures.org, Flags of US States. Accessed on May 3, 2023
Forbes, 2019 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on May 3, 2023
GeoLounge, Fortune 1000 Companies List for 2019 , Fortune 1000 by State and Place. Accessed on May 3, 2023
International Trade Centre, Trade Map. Accessed on May 3, 2023
Investopedia, Net Exports Definition. Accessed on May 3, 2023
State Symbols USA, State Nicknames. Accessed on May 3, 2023
Statista, Real gross domestic product of Wyoming. Accessed on May 3, 2023
United States Census Bureau, QuickFacts: Wyoming. Accessed on May 3, 2023
USA Trade Online, Official Source of Trade Statistics. Accessed on May 3, 2023
Wikipedia, List of Wyoming Companies. Accessed on May 3, 2023
Wikipedia, List of U.S. states and territories by GDP. Accessed on May 3, 2023
Wikipedia, Wyoming. Accessed on May 3, 2023
World’s Capital Cities, Capital Facts for Cheyenne, United States. Accessed on May 3, 2023
YCharts, Regional and State Employment and Unemployment Report. Accessed on May 3, 2023