Nicknamed the “Hawkeye State” located in America’s midwestern region, Iowa shipped US$18.4 billion worth of exported products around the world in 2023.

That dollar amount results from a 45.9% boost from $12.6 billion four years earlier in 2020.

Year over year, the overall value of Iowa’s exported goods increased by 2.1% compared to $18.1 billion for 2022.

Iowa ranks as America’s 26th most lucrative exporter by state behind front-runners including Texas, California, Louisiana, New York state and Illinois.

The value of Iowa’s exports equals 0.9% of the United States’ overall exported products for 2023.

Based on research from IBIS World, Iowa’s exported products represent 10.3% of the state’s total economic output or Gross Domestic Product in 2023 ($178.9 billion).

Given Iowa’s population of 3.23 million people, its total $18.4 billion in 2023 exports translates to roughly $5,700 for every resident in the Hawkeye State. That dollar metric exceeds the average $5,600 per capita for 2022.

Iowa’s unemployment rate was 2.8% at the end of April 2024, same as one year prior per YCharts.

Iowa’s Top 10 Exports

The following export products represent the highest dollar value in Iowa global shipments during 2023. Also shown is the percentage share each export category represents in terms of overall exports from Iowa.

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

1. Large tractors: US$1.3 billion (7.1% of Iowa’s total exports)
2. Corn: $888.4 million (4.8%)
3. Herbicides: $571.1 million (3.1%)
4. Pork (frozen): $564.4 million (3.1%)
5. Soya beans: $467.8 million (2.5%)
6. Liquor: $438.4 million (2.4%)
7. Solid residues including soya bean oil-cake: $423.7 million (2.3%)
8. Roasted molybdenum ores, concentrates: $400 million (2.2%)
9. Pork (fresh or chilled): $399.3 million (2.2%)
10. Harvesting machinery: $387.6 million (2.1%)

Iowa’s top 10 exports accounted for almost a third (31.7%) of the overall value of the state’s global shipments.

Harvesting machinery was the fastest grower among Iowa’s top 10 export categories, up by 88.5% from 2022 to 2023.

In second place for improving export sales were herbicides (up 67.1%) ahead of liquor (up 63.2%) and frozen pork (up 38.8%).

The severest decliners among Iowa’s top 10 export products were agricultural products corn (down -33.4% from 2022), fresh or chilled pork (down -27.8%) and soya beans (down -24%).

More Key Facts about Iowa’s International Trade

Iowa generated an overall US$5.1 billion surplus exporting and importing products during 2023. That dollar amount reflects a 23.3% expansion from $4.1 billion in black ink for 2022.

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 Iowa’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2023.

1. Semi-trailer road tractors US$830.2 million (6.2% of Iowa’s total imports)
2. Rapeseed or colza oil: $328.4 million (2.5%)
3. Parts, accessories for cranes and derricks: $314.2 million (2.4%)
4. Piston engines: $304.1 million (2.3%)
5. Potassium chloride: $267.5 million (2%)
6. Aluminum alloys (unwrought): $266.9 million (2%)
7. Anhydrous ammonia: $252.7 million (1.9%)
8. Machines for receiving, converting and transmitting data: $175.1 million (1.3%)
9. Automobile parts, accessories: $174.7 million (1.3%)
10. Miscellaneous engine parts: $161 million (1.2%)

Beyond the above list of imported goods, Iowa has positive net exports in the international trade of agricultural products led by large tractors, corn, pork, and soya beans. In turn, these cashflows indicate Iowa’s competitive advantages under those product categories.

Iowa’s Major Trade Partners

The following list shows the top 10 customers that purchased over four-fifths (81.1%) worth of the total value of products exported from Iowa during 2023.

1. Canada: US$5.5 billion (29.7% of Iowa’s total exports)
2. Mexico: $3.25 billion (17.6%)
3. mainland China: $1.12 billion (6.1%)
4. Brazil: $1.1 billion (5.9%)
5. Japan: $984.5 million (5.3%)
6. Australia: $860.6 million (4.7%)
7. Germany: $856.5 million (4.6%)
8. Netherlands: $505.2 million (2.7%)
9. United Kingdom: $420.5 million (2.3%)
10. South Korea: $376.8 million (2%)

Iowa’s top trade partners in North America (Canada and Mexico) bought approaching half (47.4%) of the overall value of exported goods from the Hawkeye State.

In contrast, 13.5% of Iowa’s exported goods was bought by top importers in Asia (mainland China, Japan and South Korea).

Another 9.7% was sent to leading importers in Europe (Germany, Netherlands and the United Kingdom).

Iowan Export Companies

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

• Casey’s General Stores (convenience stores, fuel)
• HNI Corp (office furniture, fireplaces)
• Principal Financial Group (investment management, insurance)
• Rockwell Collins (avionics/technology systems, services)

Shown within brackets for each company is a summary of the products or services which each business sells, some of which are significantly engaged in international trade.
 

Iowa’s capital is Des Moines, a city originally named Fort Des Moines.

See also Nevada’s Top 10 Exports, Idaho’s Top 10 Exports, Kentucky’s Top 10 Exports, Pennsylvania’s Top 10 Exports and Mississippi’s Top 10 Exports

Research Sources:
FlagPictures.org, Flags of US States. Accessed on May 21, 2024

Forbes, 2020 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on May 21, 2024

GeoLounge, Fortune 1000 Companies List for 2020 , Fortune 1000 by State and Place. Accessed on May 21, 2024

IBIS World, Iowa Economic Profile (gross domestic product, population). Accessed on May 21, 2024

International Trade Centre, Trade Map. Accessed on May 21, 2024

Investopedia, Net Exports Definition. Accessed on May 21, 2024

State Symbols USA, State Nicknames. Accessed on May 21, 2024

United States Census Bureau, QuickFacts: Iowa. Accessed on May 21, 2024

USA Trade Online, Official Source of Trade Statistics. Accessed on May 21, 2024

Wikipedia, Category:Companies based in Iowa. Accessed on May 21, 2024

Wikipedia, Iowa. Accessed on May 21, 2024

Wikipedia, List of U.S. states and territories by GDP. Accessed on May 21, 2024

YCharts, Regional and State Employment and Unemployment Report. Accessed on May 21, 2024