Nicknamed “The Palmetto State” and found in America’s southeastern region, South Carolina shipped US$37.3 billion worth of exported products around the globe in 2023.

That dollar amount results from a 23.1% increase from $30.3 billion four years earlier in 2020.

Year over year, the overall value of products exported from South Carolina accelerated 18.4% compared to $31.5 billion for 2022.

South Carolina ranks 17th among the bottom 20 most lucrative exporters by American state behind front-runners including Texas, California, Louisiana, New York state and Illinois.

The value of South Carolina’s exports equals 1.8% of the United States’ overall exported products for 2023. That percentage is an upgrade from 1.7% for 2022.

Based on research from IBIS World, South Carolina’s exported products represent 16.3% of the state’s total economic output or Gross Domestic Product in 2023 ($228.3 billion).

Given South Carolina’s population of 5.38 million people, its total $37.3 billion in 2023 exports translates to roughly $6,900 for every resident in the Palmetto State. That dollar metric surpasses the average $6,000 per capita during 2022.

South Carolina’s unemployment rate was 3.1% at then end of March 2024, up from 3% one year prior per YCharts.

South Carolina’s Top 10 Exports

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

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

1. Civilian aircraft, engines or other parts: US $6.3 billion (17% of South Carolina’s total exports)
2. Mid-sized automobiles (piston engine): $4.3 billion (11.6%)
3. Large automobiles (diesel engine): $2.32 billion (6.2%)
4. Automobiles (both spark ignition and electric motors): $2 billion (5.4%)
5. New rubber tires for specialty vehicles: $1.14 billion (3%)
6. Motor vehicle body parts, accessories: $1.06 billion (2.9%)
7. Large automobiles (piston engine): $879.9 million (2.4%)
8. Polyethylene (higher gravity): $538.7 million (1.4%)
9. Mid-sized automobiles (diesel engine): $506.8 million (1.4%)
10. Polyethylene (lower gravity): $426.8 million (1.1%)

South Carolina’s top 10 exports represent over half (52.4%) of the overall value of the state’s global shipments.

The strongest grower from 2022 among the state’s top 10 export categories civilian aircraft including aircraft engines or other parts (up 236%).

In second place were South Carolina’s exports of polyethylene having a specific gravity of 0.94 or more (up 169.9%), ahead of exported motor vehicle body parts and accessories (up 71.7%).

The two decliners among South Carolina top 10 export products were automobiles with both spark ignition and electric motors (down -15.2% from 2022), and mid-sized automobiles powered by diesel engine (down -8.4%).

More Key Facts about South Carolina’s International Trade

South Carolina incurred an overall -US$16.5 billion deficit exporting and importing products during 2023, shrinking by -31.1% from a -$24 billion deficit 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 South Carolina’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2023.

1. Uranium U235/plutonium compounds, mixtures: US$2.1 billion (3.9% of South Carolina’s total imports)
2. Spark-ignition reciprocating engines: $1.4 billion (1.9%)
3. Miscellaneous motor vehicle parts, accessories: $1.15 billion (2.1%)
4. Motor vehicle gear boxes: $1.1 billion (2%)
5. Motor vehicle body parts, accessories: $972.3 million (1.8%)
6. Photovoltaic electrical boards, panels, consoles: $908.1 million (1.7%)
7. Electric apparatus controls: $862.4 million (1.6%)
8. Lithium ion batteries: $755.3 million (1.4%)
9. New rubber tires for cars: $736.4 million (1.4)
10. Unroasted coffee (excluding decaffeinated): $612.9 million (1.1%)

South Carolina has negative net exports in the international trade of uranium U235/plutonium compounds and automobile parts or accessories. In turn, these cashflows indicate South Carolina’s competitive disadvantages under those product categories.

South Carolina’s Major Trade Partners

The following list shows the top 10 international customers that purchased two-thirds (66.3%) worth of the total value of products exported from South Carolina during 2023.

1. Germany: US $4.7 billion (12.6% of South Carolina’s total exports)
2. Canada: $4.54 billion (12.2%)
3. mainland China: $3.9 billion (10.4%)
4. Mexico: $3.04 billion (8.1%)
5. Belgium: $2 billion (5.3%)
6. Singapore: $1.65 billion (4.4%)
7. South Korea: $1.48 billion (4%)
8. United Kingdom: $1.3 billion (3.5%)
9. Taiwan: $1.1 billion (2.9%)
10. Japan: $1 billion (2.7%)

South Carolina’s top trade partners in Europe (Germany, Belgium and the UK) imported 21.5% of the overall value of exported goods from the Palmetto State.

This compares with 20.3% for North American importers in Canada and Mexico, and 24.5% for leading importers located in Asia (mainland China, Singapore, South Korea, Taiwan and Japan).

South Carolinian Export Companies

Five of South Carolina-based corporations rank among Fortune 1000 Companies, a list that showcases America’s largest businesses. Selected examples of companies headquartered or operationally based in South Carolina are shown below.

• Domtar Corp (paper, paper goods)
• Resolute Forest Products (pulp/paper mill)
• ScanSource (security, networking, barcode, technology)
• Sonoco Products Co. (packaging products)

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

South Carolina’s capital is Columbia, a city nicknamed “Cola” and “The Capital of Southern Hospitality”.

See also Minnesota’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:
Department of Numbers, South Carolina GDP (dollars shown in real terms). Accessed on April 23, 2024

FlagPictures.org, Flags of US States. Accessed on April 23, 2024

Forbes, 2020 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 23, 2024

GeoLounge, Fortune 1000 Companies List for 2020 , Fortune 1000 by State and Place. Accessed on April 23, 2024

IBIS World, South Carolina Economic Overview (GDP, population). Accessed on April 23, 2024

International Trade Centre, Trade Map. Accessed on April 23, 2024

Investopedia, Net Exports Definition. Accessed on April 23, 2024

United States Census Bureau, QuickFacts: South Carolina. Accessed on April 23, 2024

USA Trade Online, Official Source of Trade Statistics. Accessed on April 23, 2024

Wikipedia, Categories:Companies based in South Carolina. Accessed on April 23, 2024

Wikipedia, List of U.S. states and territories by GDP. Accessed on April 23, 2024

Wikipedia, South Carolina. Accessed on April 23, 2024

YCharts, Regional and State Employment and Unemployment Report. Accessed on April 23, 2024