Nicknamed the “Silver State” and “Sagebrush State” located in America’s Western, Mountain West and Southwestern regions, Nevada shipped US$9.53 billion worth of exported products around the world in 2023.

That dollar amount results from a -8% decrease from $10.4 billion four years earlier during 2020.

Year over year, the overall value of Nevadan exports also fell via a -5.7% drop compared to $10.1 billion during 2022.

Nevada ranks as America’s 34th most lucrative exporter by state well behind front-runners including Texas, California, Louisiana, New York state and Illinois.

The value of Nevada’s exports equals 0.5% of United States’ overall exported products for 2023, down from 0.6% one year earlier.

Based on research from IBIS World, Nevada’s exported products represent 5.6% of the state’s total economic output or Gross Domestic Product in 2023 ($170.1 billion).

Given Nevada’s population of 3.252 million people, its total $9.53 billion in 2023 exports translates to roughly $2,900 for every resident in the Silver State. That dollar metric falls below the average $3,200 per capita one year earlier in 2022.

Nevada’s unemployment rate was 5.1% at the end of April 2024, up from 5% one year prior per YCharts.

Nevada’s Top 10 Exports

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

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

1. Gold (unwrought): US$2 billion (20.8% of Nevada’s total exports)
2. Electronic integrated circuits: $611.9 million (6.4%)
3. Copper ores, concentrates: $595.7 million (6.2%)
4. Electronic integrated circuits (processors/controllers): $405.2 million (4.3%)
5. Coin, token or card-operated games: $398.5 million (4.2%)
6. Diamonds (non-industrial, worked): $247.7 million (2.6%)
7. Lithium ion batteries: $227.3 million (2.4%)
8. Computer parts and accessories: $195.3 million (2%)
9. Miscellaneous coins (legal tender): $150.5 million (1.6%)
10. Computer storage units: $137 million (1.4%)

Nevada’s top 10 exports represent over half (52%) of the overall value of the state’s global shipments.

Worked non-industrial diamonds represent the fastest grower among the top 10 export categories, up by 330.1% from 2022 to 2023.

In second place for improving export sales were computer storage units which rose 29.9% from 2022.

Nevada’s shipments of games operated by coin, token or card recorded the third-fastest gain in value up by 19.1%, ahead of exported lithium batteries (up 1.5%).

The greatest declines from 2022 was the -50% downturn for Nevadan exports of computer parts or accessories, and the 30.8% retreat for miscellaneous coins.

More Key Facts about Nevada’s International Trade

Nevada incurred an overall -US$9.4 billion deficit exporting and importing products during 2023. That dollar amount reflects a 5.3% gain from -$8.9 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 Nevada’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2023.

1. Electronic integrated circuits: US$1.9 billion (9.9% of Nevada’s total imports)
2. Chemical industry products, residuals: $1.75 billion (9.3%)
3. Smartphones: $1.04 billion (5.5%)
4. Parts of electric storage batteries: $847.5 million (4.5%)
5. Coin, token or card-operated games: $511.8 million (2.7%)
6. Machines for receiving, converting and transmitting data: $489 million (2.6%)
7. Computer parts, accessories: $365.6 million (1.9%)
8. Static converters, ADP power supplies: $362 million (1.9%)
9. Electronic integrated circuits (processors, controllers): $326.5 million (1.7%)
10. Electronic apparatus controls: $224.2 million (1.2%)

Nevada has negative net exports in the international trade of electronic circuits, smartphones, electric storage battery parts and computer parts or accessories. In turn, these cashflows indicate Nevada’s competitive disadvantages under these product categories.

Nevada’s Major Trade Partners

The following list shows the top 10 customers that purchased nearly three-quarters (74.2%) worth of the total value of products exported from Nevada during 2023.

1. Canada: US$1.94 billion (20.3% of Nevada’s total exports)
2. Switzerland: $1.22 billion (12.8%)
3. India: $992.2 million (10.4%)
4. Mexico: $850.8 million (8.9%)
5. mainland China: $785.8 million (8.2%)
6. Hong Kong: $354.2 million (3.7%)
7. South Korea: $251.3 million (2.6%)
8. Australia: $236.3 million (2.5%)
9. Japan: $224.3 million (2.4%)
10. Taiwan: $215.5 million (2.3%)

Nevada’s top trade partners in North America (Mexico and Canada) generated 29.2% of the overall value of exported goods generated from the Silver State.

That percentage compares to 29.6% for the leading importers of Nevadan exports that are located in Asia (India, mainland China, Hong Kong, South Korea, Japan and Taiwan).

Nevadan Export Companies

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

• Boyd Gaming Corp (casinos, hotels)
• Caesars Entertainment Corp (casinos, hotels)
• Las Vegas Sands Corp (casinos, hotels)
• MGM Resorts International (casinos, hotels)
• Scientific Games Corp (gaming machines, systems, internet apps)
• Wynn Resorts (casinos, hotels)

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

Nevada’s capital is Carson City, a city nicknamed “CC”, “Carson” and “The Capitol”.

See also Rhode Island’s Top 10 Exports, New Jersey’s Top 10 Exports, Missouri’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, 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, Real gross domestic product of Nevada. 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: Nevada. Accessed on May 21, 2024

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

Wikipedia, Companies based in Nevada. Accessed on May 21, 2024

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

Wikipedia, Nevada. Accessed on May 21, 2024

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