Connecticut Commodity Exports Rose 5% in 2022
Connecticut commodity exports increased 5.47% in 2022 to $15.3 billion, despite a significant decline in shipments to China and Germany.
Companies exported $800 million more in goods in 2022, with six of the state’s top 10 export markets posting double digit percentage increases.
However, exports have yet to fully recover from pandemic disruptions, with 2022 shipments about $700 million (-4.4%) below 2019 levels.
Commodity exports accounted for 4.8% of the state’s GDP last year.
Based on U.S. International Trade Administration data, more than 4,600 Connecticut companies—89% small or midsized firms—export goods.
The export sector supported 50,705 jobs—about 3% of the state’s workforce—in 2021, the latest available year for employment data.
Exports to France posted the largest percentage gain last year, increasing 51.1% to $1.09 billion, making that country Connecticut’s fifth largest export market.
United Kingdom commodity sales rose 33.5% to $1.36 billion, followed by Singapore (24.7%), Canada (18.9%), Japan (18.4%), Mexico (16.2%), the Netherlands (5.8%), and South Korea (2.6%).
Exports to China—which was the state’s third largest market—fell more than $410 million in 2022 to $887.9 million, pushing that country to seventh.
The latest Connecticut Economic Digest, published by the Department of Economic and Community Development and the Department of Labor, cited “tariffs, various sanctions, and China’s prolonged COVID lockdown’s impact on manufacturing and subsequent supply chain disruptions” for the decline.
Exports to Germany—which remains the state’s largest commodities market—fell $240 million (-10.1%) in 2022.
Top Commodity Exports
Connecticut’s top five commodity exports in 2022 were:
- Aircraft, spacecraft, and parts: $4.7 billion, up 3.9% from 2021 and down $1.5 billion from 2019
- Industrial machinery, including computers: $3.23 billion, up 8.39% from last year and $130 million from 2019
- Optic, photo, medical equipment: $1.32 billion, up 2.6% from 2022 and $80 million from 2019
- Electric machinery: $1.29 billion, up 7.5% from 2022 and $88 million from 2019
- Plastics and articles: $542.7 million, up 12.3% from last year and $42.7 million from 2019
Among all export commodities, the biggest year-to-year percentage increase was with mineral, fuel, and bitumen substances, which rose 409.7% to $316.8 million.
The largest percentage decrease was in inorganic chemicals, which fell 12.7% to $216.3 million.
Regional, National Numbers
Connecticut is the number two exporter in New England behind Massachusetts, which shipped $32.7 billion in goods last year.
New England commodity shipments increased 3.5% to $64.14 billion in 2022, bringing regional exports back to pre-pandemic levels.
Canada, Germany, China, Mexico, and the Netherlands were the region’s top five markets last year.
U.S. commodity exports increased 17.5% to more than $2.06 trillion last year, with Canada, Mexico, China, Japan, and the United Kingdom the top five markets.
Connecticut ranked 32nd nationally for exports, with Texas, California, Louisiana, New York, and Illinois the top five exporting states.
EXPLORE BY CATEGORY
Stay Connected with CBIA News Digests
The latest news and information delivered directly to your inbox.