A report analyzing Gov. Phil Murphy’s goal of making New Jersey an international hub for trade and partnerships — an effort highlighted by economic mission trips to nine international destinations and the creation of offices in many of them — shows the depth of the effort.
Consider:
- India remains the state’s leading trading partner;
- Europe still represents the largest share of investors and top performers;
- Asia Pacific, broader than just Japan and South Korea, is growing with increased connections with China, Taiwan and Australia;
- Israel leads a strong presence in the Middle East, one that figures to gain a boost from the governor’s recent mission to the region;
- Canada, the closest international destination but one that is unheralded, holds the No. 2 spot;
- Mexico, the likely destination of the governor’s final economic mission trip, is No. 23.
The data was released Wednesday in the second annual New Jersey Global Index, an effort by the N.J. Economic Development Authority to quantify the state’s global engagement through the lens of foreign direct investment.
The report lists 42 countries on a Global Economic Index List — including five new countries: Malaysia, Thailand, Romania, Iceland and Argentina — in a revised ranking built around key parameters, including ten-year FDI inflows at the national, regional (Northeast) and global levels, as well as relationship indicators such as memorandums of understanding.
The Top Ten is a mix of countries you would expect combined with a few surprises:
- India
- Canada
- United Kingdom
- China
- Netherlands
- Israel
- Germany
- Switzerland
- Japan
- South Korea
State officials say the report reaffirms that New Jersey continues to attract substantial investment from nearly every region of the world and that the index offers a new perspective — one that reflects both historical ties and future potential — helping companies, government agencies, and organizations better understand the sources and significance of foreign investment.
State officials said the rankings are not intended to prioritize one country over another, but rather to provide a strategic framework through which the NJEDA evaluates its global engagement efforts and the opportunities they present for innovation and talent attraction.
Murphy reiterated the importance he has placed on international trade.
“Throughout my administration, New Jersey has built robust connections with important global partners – from Ireland to the Middle East and beyond,” he said.
“The New Jersey Global Index provides critical insights that sharpen our economic development strategy, enabling New Jersey businesses, agencies, and organizations to seize new global opportunities. This, in turn, will generate jobs, boost the economy, and unlock new opportunities for residents and communities across the state.”
During his time in office, Murphy has made economic mission trips to India, Ireland, Israel, Germany, Japan, Korea, Taiwan, the United Kingdom, and Canada. As a result, Choose New Jersey has opened offices in those countries to foster ties between the Garden State and critical foreign partners.
Most recently, the delegation traveled to the Middle East, making stops in Saudi Arabia, Bahrain and the United Arab Emirates – and announced plans to make return trips to India and Israel as well as a stop in Mexico.
EDA CEO Tim Sullivan said the report shows the progress the state has made around the globe.
“This year’s Global Economic Index underscores how far we’ve come in making New Jersey a top-tier destination for international investment,” he said. “Under Gov. Murphy’s leadership, New Jersey has deepened its global partnerships and sharpened its focus on high-impact, inclusive growth. This international engagement is essential to attracting new investment, supporting business expansion, and securing the state’s long-term economic competitiveness.”
“New Jersey has deepened our global partnerships and sharpened our focus on high-impact, inclusive growth. These relationships are critical to bringing new business to New Jersey, supporting local companies, and helping to drive long-term economic momentum across the state.”
Choose New Jersey CEO Wes Mathews said the report reflects the melting pot that is New Jersey.
“The Global Economic Index reinforces what we see every day at Choose New Jersey — that international interest in New Jersey is growing and diversifying,” he said. “This data-driven report gives us a strategic advantage as we engage with partners abroad, showing where our strengths lie and where new opportunities are emerging. It’s an essential tool for advancing our mission to attract investment and jobs to New Jersey.”
Andrew Gross, the director of international innovation and partnerships at the EDA, said the report represents a fresh approach to examining the international economic relationships which are critical drivers for job creation in New Jersey.
“By tracking the sources of global investment into the state, we have gained deeper insights into New Jersey’s international connections and can continue to promote growth in areas where economic engagement has been limited,” he said.
