Cleveland Fed: Ohio’s International Trade Profile

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The Federal Reserve Bank of Cleveland is out with another District Data Brief  focusing on state international trading patterns. This time it’s Ohio. The Cleveland Fed’s economists classify Ohio as a net importer with its imports of $86.8 billion in 2024 far exceeding exports of $57.4 billion, and they note that Canada is the state’s largest trading partner. Canada accounted for 22% of all Ohio imports in 2024, followed by the EU at 21%, but it accounts for an even greater portion of the state’s exports at 36%. Not surprisingly, transportation equipment makes up a considerable percentage of both the state’s exports and imports, with imports of pharmaceuticals not too far behind. Given Ohio’s sizable exposure to trade with Canada, it will be very interesting to see what impact the new federal tariff and trade policies will have on its trade statistics in 2025 and beyond. 


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