Nicknamed “Old Line State” and “Free State” located in America’s Mid-Atlantic region, Maryland shipped US$18.4 billion worth of exported products around the globe in 2023.

That dollar amount results from a 44.9% rise from $12.7 billion four years earlier in 2020.

Year over year, the overall value of Maryland’s exported goods increased by 3% compared to $17.8 billion for 2022.

Maryland ranks as America’s 27th biggest exporters by state lagging front-runners including Texas, California, Louisiana, New York state and Illinois.

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

Based on research from IBIS World, Maryland’s exported products represent 5% of the state’s total economic output or Gross Domestic Product in 2023 ($370.1 billion).

Given Maryland’s population of 6.228 million people, its total $18.4 billion in 2023 exports translates to roughly $2,950 for every resident in the Old Line State. That dollar metric exceeds the average $2,900 per capita for 2022.

Maryland’s unemployment rate was 2.5% at then end of March 2024, up from 2% one year prior per YCharts.

Maryland’s Top 10 Exports

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

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

1. Civilian aircraft, engines, other parts: US$2.25 billion (12.3% of Maryland’s total exports)
2. Natural gas (liquid): $2.1 billion (11.4%)
3. Coal (non-agglomerated, bituminous): $1.3 billion (6.8%)
4. Vehicles powered by electric motor only: $907.5 million (4.9%)
5. Diagnostic/laboratory reagents: $520.3 million (2.8%)
6. Large airplanes, helicopters: $463.9 million (2.5%)
7. Pipe taps, vats, similar appliances: $248.3 million (1.4%)
8. Immunological products in dosage: $241 million (1.3%)
9. Silver jewelry, parts: $236.7 million (1.3%)
10. Soya beans: $219.8 million (1.2%)

Maryland’s top 10 exports accounted for 46% of the overall value of the state’s global shipments.

Vehicles powered by electric motors only represent the fastest grower among the top 10 export categories, up by 162,150% from 2022 to 2023.

Other strong annual increases belong to Marylander exports of large airplanes and helicopters (up 140.1% from 2022), immunological products in measured dosage (up 66.7%), then soya beans (up 40.2%).

The 3 decliners among Maryland’s top 10 export products were liquid natural gas (down -26.6% from 2022), diagnostic or laboratory reagents (down -14.8%) and non-agglomerated, bituminous coal (down -10%).

More Key Facts about Maryland’s International Trade

Maryland incurred an overall -US$27.5 billion deficit exporting and importing products during 2023. That dollar amount reflects a -7.6% reduction compared to -$29.7 billion in red ink in 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 Maryland’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2023.

1. Mid-sized automobiles (piston engine): US$10.2 billion (22.2% of Maryland’s total imports)
2. Large automobiles (piston engine): $1.95 billion (4.2%)
3. Modems, similar reception/transmission devices: $1.3 billion (2.8%)
4. Vehicles powered by electric motor only: $1.2 billion (2.6%)
5. Unalloyed nickel (unwrought): $996.8 million (2.2%)
6. Mechanical shovels, excavators, loaders: $945.8 million (2.1%)
7. Tractors: $760.7 million (1.7%)
8. Unalloyed aluminum (unwrought): $693.5 million (1.5%)
9. Self-propelled front-end shovel loaders: $581.2 million (1.3%)
10. Composite diagnostic/laboratory reagents: $509.9 million (1.1%)

Maryland has highly negative net exports in the international trade of automobiles including electric-powered vehicles as well as modems and similar reception or transmission devices. In turn, these cashflows indicate Maryland’s competitive disadvantages under those product categories.

Maryland’s Major Trade Partners

The following list shows the top 10 customers that purchased almost two-thirds (65.9%) worth of the total value of products exported from Maryland during 2023.

1. Canada: US$2.4 billion (12.9% of Maryland’s total exports)
2. France: $1.6 billion (8.7%)
3. Netherlands: $1.4 billion (7.7%)
4. Germany: $1.26 billion (6.8%)
5. Japan: $1.21 billion (6.6%)
6. mainland China: $1 billion (5.6%)
7. India: $937.3 million (5.1%)
8. South Korea: $845.3 million (4.6%)
9. Belgium: $729.1 million (4%)
10. Morocco: $712.9 million (3.9%)

Maryland’s top trade partners in Europe (France, Netherlands, Germany, Japan and Belgium) purchased 27.2% of the overall value of exported goods from the Old Line State.

Leading importers in Asia (Japan, mainland China, India and South Korea) accounted for another 21.9% of Maryland’s export sales to its top 10 trade partners.

Canada and Mexico, Maryland’s North American trade customers, bought 15.8% of the state’s overall export sales.

Marylander Export Companies

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

• Ciena Corp (networking products, systems, services)
• Colfax Corp (transmissions, fluids)
• Lockheed Martin Corp (aerospace/defense/security technologies)
• McCormick & Company (spices, herbs, flavorings)
• Under Armour, Inc. (clothing, footwear, sporting equipment)
• W.R. Grace & Co. (specialty chemicals)

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

Maryland’s capital is Annapolis, a city nicknamed “America’s Sailing Capital” and “Naptown”.

See also Nevada’s Top 10 Exports, Idaho’s Top 10 Exports, Kentucky’s Top 10 Exports, Iowa’s Top 10 Exports and Maryland’s Top 10 Exports

Research Sources:
FlagPictures.org, Flags of US States. Accessed May 5, 2024

Forbes, Global 2000 rankings, The World’s Biggest Public Companies. Accessed May 5, 2024

GeoLounge, Fortune 1000 Companies List for 2020 , Fortune 1000 by State and Place. Accessed May 5, 2024

IBIS World, Maryland Economic Overview (gross domestic product, population). Accessed on May 5, 2024

International Trade Centre, Trade Map. Accessed May 5, 2024

Investopedia, Net Exports Definition. Accessed May 5, 2024

State Symbols USA, State Nicknames. Accessed May 5, 2024

United States Census Bureau, Quick Facts Maryland (includes population). Accessed May 5, 2024

USA Trade Online, Official Source of Trade Statistics. Accessed on May 5, 2024

Wikipedia, Category:Companies based in Maryland. Accessed May 5, 2024

Wikipedia, List of U.S. states and territories by GDP. Accessed on May 5, 2024

Wikipedia, Maryland. Accessed May 5, 2024

YCharts, Regional and State Employment and Unemployment Report. Accessed May 5, 2024