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New York Economy

Agriculture

In terms of revenue generated New York's top five agricultural products are dairy products, greenhouse and nursery products, apples, cattle and calves, and hay.

Livestock

Livestock and livestock products account for about 2/3 of New York's agricultural income. Leading the way in this sector is the production of milk. New York is a leading producer (#3) of dairy products.

Beef cattle and retired dairy cattle are also important. Other livestock products are eggs, poultry, hogs and sheep.

Crops

New York is a leading fruit and vegetable producer in the eastern part of the country.

Vegetable farms produce cabbages, cucumbers, green peas, onions, snap beans, squash, sweet corn and tomatoes.

The state's leading fruit crops are apples, followed by grapes. New York is a leading (#2) apple producing state. Other important fruit crops are cherries and peaches.

The big field crops are hay and corn, used as feed for New York's livestock.

The important greenhouse products of the state are flowers.

Other agricultural products are maple syrup, oats, potatoes, soybeans and wheat.

[ More ]

Manufacturing

Manufacturers add value to raw products by creating manufactured items. For example, cotton cloth becomes more valuable than a boll of cotton through manufacturing processes.

New York is a leading manufacturing state producing a variety of goods from pharmaceuticals to machinery to computer chips. Ranking first is the manufacture of chemicals (Pharmaceuticals, photographic chemicals, film and paper), though the popularity of digital photography is taking its toll. Other important chemical products are industrial chemicals, soaps, paint, plastics and agricultural pesticides and fertillizer.

Second, behind production of chemicals, is the manufacture of machinery including industrial equipment, photographic and photocopying equipment and refrigeration equipment.

Computer and electronic products rank third in the manufacturing industry. The important products in this sector are computer components and microchips, communications equipment, surveillance equipment and navigation equipment.

Mining

New York's most valuable mined products are stone (limestone crushed for road construction), salt and sand and gravel.

New York is the only state that produces wollastonite, used in heat-resistent ceramics and as filler for paints

New York ranks among the leading producers of garnets and zinc in the country.

Other mined products include clays, lead, natural gas, peat, silver and talc.

Services

Finance, insurance and real estate comprise New York's most important service industry group and New York City is the prime driver in this area. New York City is the nation's leading financial center, home to the New York Stock Exchange. Leading finance, insurance and real estate companies are headquartered in New York. Some of the world's highest property values are found on Manhatten Island.

Ranking second in the services industry is the community, business and personal services group that includes private health care, accounting firms, management consulting firms, law firms, advertising agencies, entertainment companies and personnel agencies. Large law firms and advertising agencies are found in New York.

The wholesale (clothing, grain, groceries, jewelry, petroleum) and retail (automobile dealerships, food stores, restaurants) trade sector ranks third in the services industry.

Sources

Michael K. Heiman, Paul R. Eberts, and Sung Bok Kim, "New York," World Book Online Americas Edition, http://www.worldbookonline.com/wbol/wbPage/na/ar/co/389200, August 15, 2001.

U.S. Department of Agriculture: National Agricultural Statistics Service, "New York State Agriculture Overview, 2004", 3 January 2006, <http://www.nass.usda.gov/Statistics_by_State/Ag_Overview/AgOverview_NY.pdf> (12 January 2006)

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