Pennsylvania consolidates its import surplus with a historic rebound in the chemical and pharmaceutical sector

 

The detailed analysis of the state's commercial evolution has been prepared by Julianne Dunn, Regional Executive en Cincinnati, and Carol Moseley, Research Analyst, both specialists in Federal Reserve Bank of Cleveland.

 

Pennsylvania It recorded imports valued at $127.300 billion compared to $53.500 billion in exports during 2024, consolidating its position as a net importer driven by the sector of chemicals and medicines, according to the latest report from Federal Reserve Bank of Cleveland.

 

Trade flow analysis: Imports on the rise

 

Since 2020, the value of goods entering Pennsylvania has grown exponentially. In 2024, the state reached a record $127.300 billion in imports. The sector of chemical It is the absolute protagonist, representing 32,1% of total imports, with a value of 40.900 billion dollars.

 

This increase has been led by the subsector of pharmaceutical products and medicinesOn the other hand, the supplier structure has changed: while the Unión Europea It remains the main source with almost 30% of purchases, the market share of China has shown a downward trend in recent years.

 

Import Category (NAICS)	Value 2024 (USD Billions)	Market Share (%)
Chemicals (325)	40.9	32.1 %
Electronic Products and Computing (334)	17.4	13.7 %
Transportation Equipment (336)	10.6	8.3 %
Non-electrical machinery (333)	7.8	6.1 %

 

Exports and the impact of the energy sector

 

In the area of ​​foreign sales, Canadá It positions itself as the number one destination for companies in Pennsylvaniaabsorbing 27,7% of total exports. Chemical products also dominate this sector, with notable growth from 2020 onwards thanks to the boom in training. Marcellus Shale.

 

The abundance of natural gas in this region, which underlies 60% of the state's territory, has allowed for unprecedented development of the petrochemical manufacturing. As a result, Pennsylvania It is currently the second largest producer of natural gas in Estados Unidos, second only to Texas.

 

• Main partner: Canadá It leads in receiving goods with $14.800 billion.
• Chemical strength: Chemical sector exports increased from 8.600 billion in 2020 to 13.900 billion in 2024.
• Technology sector: Electronic products are the second most exported category, exceeding 5.000 billion annually since 2021.

 

Key points and frequently asked questions about trading in Pennsylvania

Who is Pennsylvania's main trading partner in terms of imports?

La Unión Europea It is the leading bloc, supplying products worth $38.100 billion in 2024, which accounts for almost 30% of the state's total imports.

How has natural gas influenced the state's foreign trade?

The development of Marcellus Shale It has drastically reduced the need to import oil and gas (which fell from 33% in 2008 to 3,9% in 2024) and has boosted the export of petrochemical products.

What impact does China have on the Pennsylvania economy today?

Although China It remains the largest single supplier of electronic and computer products, but its overall share of state imports has declined compared to the advance of other partners such as Unión Europea.