Pennsylvania's Trade Profile

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The Federal Reserve Bank of Cleveland has released another in its series of state trade profiles. The new release focuses on Pennsylvania. The state is a significant net importer with total imports in 2024 of $127.3 billion dwarfing exports of $53.5 billion. Imports have risen substantially since 2020, while exports have remained somewhat flat. The EU accounts for the largest percentage of Pennsylvania imports at 30% as of 2024, with China at 13% and Canada at 11%. Chemicals, principally in the form of pharmaceuticals and medicines accounted for over 32% of all imports, while computer and electronic products made up almost 14% (about half of which came from China). The economists from the Cleveland Fed note that the state’s oil and gas imports have declined significantly since 2008, as Marcellus Shale production developed. Pennsylvania’s largest export markets are the EU and Canada at 28% and 21%, respectively. The export product mix is heavily weighted to chemicals and computer and electronic projects.

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