The New York City metropolitan area accounted for more than $103 billion, or 69%, of the value of goods imported to New York state in 2023, with Europe supplying the largest share, according to a report released Wednesday by New York State Comptroller Thomas P. DiNapoli.
The report examines trade flows into the metropolitan area including New York City, Long Island and parts of the Hudson Valley and highlights the potential effects of federal trade policies on local businesses and consumers.
Eastern Asia, which includes China and Japan, and Southern, Central and Western Asia, each contributed about 18% of the area's import value, while Canada accounted for more than 16%, the report found. Nationally, Eastern Asia remains the United States’ largest import partner, providing over 25% of total import value.
The largest category of imported goods into the metro area was miscellaneous manufacturing products, including medical equipment, which made up an estimated 38.4% of total import value. Other major imports included textiles and leather goods, electronics and machinery.
“New York City is one of the country’s largest importers and exporters of goods, and its consumers and businesses could be negatively affected by new tariffs on goods traded with some of our biggest trading partners,” DiNapoli said.
Restaurants and bars, already operating on thin margins, could also see increased costs for imported products.
The report also found that the New York City-Newark-Jersey City metropolitan area exported over $106 billion in goods in 2023, making it the second-largest U.S. export hub after Houston. The metro area’s largest export trading partners were Canada and Switzerland, each accounting for over 12% of total exports. Hong Kong, Mexico and the United Kingdom were also among the top five destinations for goods exported from the region.
Manufactured goods made up the largest portion of exports, with primary metals, chemicals and computer and electronic products each exceeding $10 billion in value. DiNapoli noted that businesses reliant on exports may need to adjust their strategies if tariffs or shifting trade relationships affect their market access.
New York state as a whole imported $157.2 billion in goods in 2023, representing about 5% of total U.S. imports, according to the International Trade Administration.
