NJ Economy Deeply Rooted in International Trade

General Business

On Jul 11, 2024

New Jersey’s export profile reflects its diverse manufacturing and service sectors, ranging from pharmaceuticals and chemicals to electronics and professional and technical services. 

Complementing robust manufacturing and service industries, New Jersey also benefits from its strategic location. Situated along the East Coast and home to Port-Newark Elizabeth, New Jersey maintains easy access to major international markets. New Jersey’s five Foreign Trade Zones (FTZs) and superior logistic and distribution infrastructure has resulted from and continues to support our state’s reliance on foreign trade. Altogether, trade is an economic engine, supporting tens of thousands of Garden State jobs.

New Jersey’s top export destinations include Canada, Mexico, Japan, China, and the United Kingdom. As a result of this trade, New Jersey generated $43.3 billion in merchandise exports in 2023. According to the latest figures, nearly 20,000 New Jersey companies exported globally in 2022, with 91% of them being small to mid-sized enterprises – with many of these businesses benefitting directly from U.S. Commercial Service assistance.

By helping to facilitate these exports, the U.S. Commercial Service supports New Jersey businesses as they navigate the complexities of the international marketplace. The U.S. Commercial Service is the trade promotion arm of the U.S. Department of Commerce’s International Trade Administration (ITA). With a dedicated team of trade and investment experts, this federal agency provides invaluable assistance and facilitates global business connections to export-ready companies looking to expand their customer bases to new global markets.

Our team provides unique insights and offers a variety of tools and resources to help businesses thrive in foreign markets. These skills and tools include providing market research, trade counseling and business matchmaking. With offices directly connected to U.S. Embassies and Consulates in nearly 80 countries, our commercial experts abroad are readily available to provide insight and assistance to U.S. companies that want to export their products or services made in the USA. 

A close partner of the U.S. Commercial Service is the New Jersey District Export Council (NJDEC). NJDEC is comprised of volunteers from across the state, offering advice on doing business internationally. NJDEC’s pillars are to inform, educate, advocate, and assist new and experienced exporters. These tenets drive activities such as educational seminars, networking events, and webinars, all of which are accessible on demand via a live calendar on its website, njdec.org.

By leveraging the support of the U.S. Commercial Service and the NJDEC, your business can gain critical insights into foreign markets, identify new potential partners and customers, and overcome complicated trade barriers. For businesses in New Jersey, both the U.S. Commercial Service and the NJDEC are valuable resources for anyone attempting to expand their business globally.

No business is too small to export, and whether large or small, a business that has a good track record of selling in the United States – one of the world’s most open and competitive markets – is also likely a good candidate for selling internationally. Reach out to our office in New Jersey for more information on how we can support your business to expand globally. 

The NJ U.S. Commercial Service team can be reached at and https://www.trade.gov/new-jersey-trenton. For more information on our services, please visit www.trade.gov/export-solutions. 

To access more business news, visit NJB News Now.

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