That dollar metric results from a 48.8% increase from $41.1 billion four years earlier in 2020.
Year over year, the overall value of Washington’s exports flatlined via a 0.02% gain compared to $61.198 billion for 2022.
Washington ranks among America’s 10 most lucrative exporters by state, albeit well behind leaders including Texas, California, Louisiana, New York state and Illinois. The value of Washington’s exports equals about 3% of the United States’ overall exported products for 2023 worth $2.019 trillion.
Based on research from the USA Facts website, Washington’s exported products represent 7.4% of the state’s total economic output or real Gross Domestic Product ($829.6 billion in 2023).
Given Washington’s population of 7.813 million people in 2023, its $61.21 billion in 2023 exports translates to roughly $7,850 for every resident in the Evergreen State. That dollar metric exceeds the average $7,800 one year earlier during 2022.
Washington State’s unemployment rate was 4.7% in February 2024, up from 4% one year earlier, per YCharts.
Washington’s Top 10 Exports
The following export products represent the highest dollar value in Washington global shipments during 2023. Also shown is the percentage share each export category represents in terms of overall exports from Washington.
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$19.4 billion (31.7% of Washington’s total exports)
- Soya beans: $5.9 billion (9.6%)
- Wheat, meslin: $2.75 billion (4.5%)
- Miscellaneous petroleum oils: $2.3 billion (3.7%)
- Corn: $1.6 billion (2.5%)
- Soya bean flours, meals: $1.4 billion (2.3%)
- Frozen potatoes: $1.1 billion (1.8%)
- Electrical energy: $953.9 million (1.6%)
- Large aircraft: $790.3 million (1.3%)
- Fresh apples: $683.5 million (1.1%)
Washington’s top 10 exports represent three-fifths (60.1%) of the overall value of the state’s global shipments.
Large aircraft represent the fastest grower among Washington’s top 10 export categories, up by 342.6% from 2022 to 2023.
In second place for improving export sales was electrical energy via a 127.7% advance.
Posting the third-fastest gain were soya bean flours and meals, up 59.4%.
Washington’s international shipments of frozen potatoes grew 15.7% year over year.
There was a trio of declines year over year, specifically for Washington’s exports of corn (down -55% from 2022), soya beans (down -24.2%), then wheat and meslin (down -2.5%).
More Key Facts about Washington’s International Trade
Washington State incurred an overall -US$6.2 billion deficit exporting and importing products during 2023. That dollar amount reflects a -50.9% drop from the -$12.6 billion deficit one year earlier 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 Washington’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2023.
- Crude petroleum oils: US$7 billion (10.4% of Washington’s total imports)
- Natural gas (gaseous state): $6 billion (9%)
- Mid-sized automobiles (piston engine): $5.55 billion (8.2%)
- Wheeled toys (tricycles, scooters, pedal cars, carriages): $1.7 billion (2.5%)
- Large automobiles (piston engine): $1.5 billion (2.3%)
- Video game consoles, machinery: $1.36 billion (2%)
- Automobiles (spark ignition and electric engine): $1.26 billion (1.9%)
- Automobiles (electric engine only): $1.06 billion (1.6%)
- Solid-state semiconductor storage devices: $814.3 million (1.2%)
- Enriched uranium: $702.2 million (1%)
Washington has negative net exports in the international trade of crude petroleum oil, gas and automobiles. In turn, these cashflows indicate Washington’s strong competitive global disadvantages under these product categories.
Washington State’s Major Trading Partners
The following list shows the top 10 customers that purchased two-thirds (66.7%) worth of the total value of products exported from Washington during 2023.
- mainland China: $11 billion (18% of Washington’s total exports)
- Canada: $9.6 billion (15.7%)
- Japan: $4.3 billion (7.1%)
- Mexico: $3.5 billion (5.8%)
- South Korea: $3.1 billion (5%)
- Philippines: $2.2 billion (3.5%)
- Ireland: $2 billion (3.2%)
- Taiwan: $1.77 billion (2.9%)
- India: $1.69 billion (2.8%)
- Qatar: $1.66 billion (2.7%)
Washington’s top trade partners in Asia and the Middle East (mainland China, Japan, South Korea, Philippines, Taiwan, India and Qatar) imported 42% of the overall value of exported goods from the Evergreen State.
That leading percentage for Asia and the Middle East compares with 21.4% of Washington State’s total export sales to its North American trade partners Canada and Mexico.
Washingtonian Export Companies
Ten of Washington-headquartered corporations rank among Forbes Global 2000. Selected examples are listed below.
- Alaska Air Group (airliner)
- Amazon.com (global e-commerce, cloud computing)
- Expeditors International (freight forwarding, customs brokerage)
- Microsoft Corporation (software, technology products)
- Paccar (commercial vehicles, auto parts)
- Weyerhaeuser (forest products)
Shown within brackets for each company is a summary of the international trade-related products or services category in which each business sells.
Washington’s capital is Olympia, a city nicknamed “Oly” and “O-Town”.
See also Ohio’s Top 10 Exports, Alabama’s Top 10 Exports, Oregon’s Top 10 Exports, Louisiana’s Top 10 Exports and Tennessee’s Top 10 Exports
Research Sources:
FlagPictures.org, Flags of US States. Accessed on April 15, 2024
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 15, 2024
GeoLounge, Fortune 500 List by State. Accessed on April 15, 2024
International Trade Centre, Trade Map. Accessed on April 15, 2024
Investopedia, Net Exports Definition. Accessed on April 15, 2024
Statista, QuickFacts: Washington. Accessed on April 15, 2024
United States Census Bureau, QuickFacts: Washington. Accessed on April 15, 2024
USA Facts, Economy of Washington–Real Gross Domestic Product. Accessed on April 15, 2024
USA Trade Online, Official Source of Trade Statistics. Accessed on April 15, 2024
Wikipedia, Washington (state). Accessed on April 15, 2024
Wikipedia, List of U.S. states and territories by GDP. Accessed on April 15, 2024
Wikipedia, List of Washington (state) companies. Accessed on April 15, 2024
YCharts, Regional and State Employment and Unemployment Report. Accessed on April 15, 2024