The Impact of International Trade on the Economic Development of New Hampshire State, USA

Abstract

International trade is an integral part of the growth of a state and globalization has made it easier for states in the United States to do business with nations outside their main spheres of influence. This study analyzes the relationship and impact of international trade on economic development in New Hampshire. Since states can easily buy from or sell products to another country, the trade has contributed to the economic growth of New Hampshire. In this study, a regression analysis was employed to evaluate data from the United States Census Bureau and other agencies from 2010 to 2019. Results show that these trade factors have a positive correlation on New Hampshire’s economic development. The understanding of the behavior of these factors can provide useful information to New Hampshire government and policy makers as they seek to improve export promotion, encourage domestic investment and attract new investors to the state.

Keywords: International trade, Foreign trade, Economic growth, Economic development, Export, Import, Exchange rate

DOI: 10.7176/EJBM/12-20-04

Publication date:July 31^st 2020