That dollar amount results from a 73.2% advance from $329.1 million four years earlier during 2020.
Year over year, the overall value of Hawaiian exports for 2023 expanded by 31.5% compared to $433.7 million in 2022.
Hawaii’s most valuable exports include civilian aircraft including engines and other parts which accounted for over a third (35.7%) of the state’s total revenues from exports. Other major Hawaiian exports are biodiesel plus light petroleum oil mixes (13.3%), iron or steel scrap (7.9%), trailed by aluminum scrap (2.8%).
Geographically distant, Hawaii is America’s smallest exporter by state well behind front-runners Texas, California, Louisiana, New York state and Illinois. The value of Hawaii’s exports equals a tiny 0.03% worth of United States’ overall exported products for 2023 (US$2.019 trillion). That percentage exceeds the 0.02% score one year earlier.
Also, consider that Hawaii’s exported products comprise 0.58% of the tourism-based state’s total economic output in 2023 known as Gross Domestic Product ($98.2 billion).
Given Hawaii’s population of 1.44 million people, its total $570 million in 2023 exports translates to $397 for every resident in the Aloha State. That metric falls below the average $488 per capita one year earlier during 2022.
Hawaii’s unemployment rate was 2.9% at December 2023, down from 3.2% in January 2023 per Trading Economics.
Hawaii’s Top 10 Exports
The following export products represent the highest dollar value in Hawaii global shipments during 2023. Also shown is the percentage share each export category represents in terms of overall exports from Hawaii.
Figures are shown at the more granular six-digit Harmonized Tariff System code level, for more precise product identification.
- Civilian aircraft including engines, parts: US$203.7 million (35.7% of total Hawaiian exports)
- Light oil mixes excluding biodiesel: $75.6 million (13.3%)
- Iron or steel scrap: $44.9 million (7.9%)
- Aluminum waste, scrap: $16 million (2.8%)
- Cold-water shrimps, prawns: $11.8 million (2.1%)
- Warships including submarines, troop carriers: $11.5 million (2%)
- Surveying instruments, appliances: $10.9 million (1.9%)
- Unsweetened and non-flavored waters: $10.3 million (1.8%)
- Macadamia nuts in shell: $9 million (1.6%)
- Copper waste, scrap: $8.7 million (1.5%)
Hawaii’s top 10 exports approached three-quarters (72.5%) of the overall value of the state’s global shipments.
Surveying instruments and appliances represent the fastest grower among the top 10 export categories, up by 15,114% from 2022 to 2023.
In second place for improving export sales were Hawaiian shipments of light petroleum oil mixes excluding biodiesel which increased by 81.1%.
Hawaii’s exports of civilian aircraft including engines and other parts rose 75.8% year over year.
There were 4 double-digit decliners among Hawaii’s top 10 export products.
Sales of Hawaii’s exported macadamia nuts in shell fell -42.5% compared to 2022. Exports of cold-water shrimps and prawns shrank by -30.5% while shipments of Hawaiian iron or steel scrap depreciated by -20.7% year over year.
The value of unsweetened and non-flavored waters exported from Hawaii fell by a smaller percentage at -11.2% from 2022.
More Key Facts about Hawaiian International Trade
Overall, Hawaii incurred a -US$2.14 billion deficit exporting and importing products during 2023. That dollar amount reflects a 19% increase compared to Hawaii’s -$1.8 billion in red 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 Hawaii’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2023. All told, Hawaiian imports cost a total $2.71 billion for 2023.
- Light oil mixes excluding biodiesel: US$541.9 million (20% of total Hawaiian imports)
- Refined petroleum oils excluding biodiesel: $258.9 million (9.5%)
- Mid-sized automobiles (piston engine): $152.2 million (5.6%)
- Crude petroleum oils: $133.1 million (4.9%)
- Lithium ion batteries: $108.8 million (4%)
- Photovoltaic solar modules, panels: $101.9 million (3.8%)
- Large automobiles (piston engine): $99.6 million (3.7%)
- Faster thrust turbo-jets: $68.3 million (2.5%)
- Liquefied propane: $39.6 million (1.5%)
- Passenger vehicles (with both combustion/electrical motors): $34.3 million (1.5%)
Hawaii racks up highly negative net exports in the international trade of petroleum oils and automobiles. In turn, these cashflows indicate Hawaii’s competitive disadvantages under those product categories.
Major Trade Partners Buying Hawaiian Exports
The following list shows the top 10 international customers that purchased almost four-fifths (79.3%) worth of the total value for products exported from Hawaii during 2023.
- Japan: US$127.7 million (22.4% of Hawaii’s total exports)
- Australia: $71 million (12.5%)
- Philippines: $70.7 million (12.4%)
- Hong Kong: $55.2 million (9.7%)
- India: $30.4 million (5.3%)
- Singapore: $24.1 million (4.2%)
- Netherlands: $21.3 million (3.7%)
- South Korea: $18.3 million (3.2%)
- Vietnam: $17.8 million (3.1%)
- Canada: $15.8 million (2.8%)
Hawaii’s top trade partners located in Asia bought three-fifths (60.4%) of the overall value of goods exported from the Aloha State during 2023.
In contrast, importers in North America (mostly Canada but also Mexico) consumed just 3.2% of Hawaii’s total exported product sales.
Hawaii Export Companies
Two Hawaii-based corporations rank among Fortune 1000 Companies, a list that showcases America’s largest businesses. Listed below are both firms that have their headquartered in Hawaii’s capital city, Honolulu.
- Hawaiian Holdings, Inc. (airliner for passengers, cargo)
- Hawaiian Electric Industries (electricity)
Shown within brackets for each company is a summary of the products or services which in each business deals, some of which are related to international trade.
Hawaii’s capital is Honolulu, a city nicknamed “Crossroads of the Pacific” and “Sheltered Bay”.
See also America’s Top 20 Export States, United States Top 10 Exports and Top United States Trade Balances
Research Sources:
FlagPictures.org, Flags of US States. Accessed on February 26, 2024
Forbes, 2017 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on February 26, 2024
GeoLounge, Fortune 1000 Companies List for 2017 , Fortune 1000 by State and Place. Accessed on February 26, 2024
IBIS World, Hawaii – State Economic Profile (including GDP). Accessed on February 26, 2024
International Trade Centre, Trade Map. Accessed on February 26, 2024
Investopedia, Net Exports Definition. Accessed on February 26, 2024
State Symbols USA, State Nicknames. Accessed on February 26, 2024
United States Census Bureau, U. S. Exports of Goods by State, Based on Origin of Movement, by NAICS-Based Product. Accessed on February 26, 2024
United States Census Bureau, QuickFacts: Hawaii. Accessed on February 26, 2024
USA FACTS, Gross domestic product (GDP) state – Hawaii. Accessed on February 26, 2024
USA Trade Online, Official Source of Trade Statistics. Accessed on February 26, 2024
Wikipedia, Category: Companies. Accessed on February 26, 2024
Wikipedia, Hawaii. Accessed on February 26, 2024
Wikipedia, List of U.S. states and territories by GDP. Accessed on February 26, 2024
YCharts, Regional and State Employment and Unemployment Report. Accessed on February 26, 2024