NH Exports Surpass $7 Billion in 2022

March 1, 2023 – The value of New Hampshire exports reached a record $7.3 billion in 2022, jumping nearly $1 billion from 2021, according to the U.S. Census Bureau.

“New Hampshire’s economy is booming with record exports — highlighting our pro-business, pro-worker agenda,” said Governor Chris Sununu. “I encourage any business, small or large, to make the Granite State their home. We are open for business!”

Electrical machinery, which includes phones, radio transmitters, microchips, and insulated wires, surpassed industrial machinery as the state’s top export, increasing 14 percent from 2021, to $1.7 billion. After several years behind Germany, Canada returned to being New Hampshire’s top trading partner.

“This is the first time New Hampshire surpassed the $7 billion mark on its export value, which illustrates globally the importance of, and the demand for, products made here,” said Taylor Caswell, commissioner of the New Hampshire Department of Business and Economic Affairs (BEA). “It reflects the hard work our companies have done in securing new global markets following years of trade slowdowns due to disruptions from COVID-19.”

Exports of electronic integrated circuits (ICs), a crucial component for electronic devices and equipment, increased by 23 percent between 2021 and 2022 and were valued at $209 million last year.

“Demand for ICs has exceeded supply worldwide and New Hampshire companies have been able to help
meet that demand,” Caswell said.

While exports remained strong for industrial machinery, which includes printing and automatic data machines, it dropped 2.7 percent from 2021, to $1.4 billion. The state’s third leading export last year was aircraft and aircraft parts, increasing 14 percent, to $1.3 billion. The exports of pharmaceuticals saw expansive growth in 2022, rising 70 percent, to $288 million, according to trade data.

Exports to Canada increased nearly 14 percent in 2022, returning that country to the top spot as the state’s largest trading partner, followed by Germany, Mexico, United Arab Emirates, and Ireland. Among the largest growing top 20 trading partners were Romania, growing 330 percent, and Sweden, at 261 percent.

“New Hampshire is the third largest exporter in New England, which, regionally saw and increase of 3.5 percent in 2022,” said Adam Boltik, program manager for BEA’s Office of International Commerce. “New Hampshire exports grew at nearly 14 percent over the same period, which is outperforms the region.”

The Department of Business and Economic Affairs is dedicated to enhancing the economic vitality of the State of New Hampshire while promoting it as a destination for domestic and international visitors. For more information visit nheconomy.com or choosenh.com