Utah Exports

Utah ranked 32nd for the third year in a row among the states in the value of merchandise exports during 2006.

While Utah's exports ranks stayed the same, Utah's merchandise exports grew from $6.1 billion in 2005 to an estimated $6.8 billion in 2006, an increase of 12.9%. Utah's exports have been at or above $3.0 billion since 1999 and above $4.0 billion since 2002. Shipments of gold accounted for approximately 42% of the total during 2006, an increase over 2005 when gold accounted for 35% of Utah exports. Exports to Canada and Mexico remain strong, and exports to China exceeded $100 million for the fourth year in a row. As the world economic recovery strengthens during 2007, Utah's exports should continue to grow.

Utah's growth in 2006 was equal to the national average of 12.9%. Merchandise exports for the entire United States increased from $867.6 billion in 2005 to $980.4 billion in 2006. Merchandise exports fell in just four states in 2006-- South Carolina, Georgia, Vermont, and Hawaii.

As in 2005, Texas was the leading exporter in the nation, exporting $147.8 billion in 2006, about 15.0% of the nation's total exports. Texas was followed by California ($126.3 billion), New York ($55.7 billion), Washington ($50.7 billion) and Illinois ($41.2 billion). These five states account for approximately 43% of the nation's total exports.

National Ranking

Billions $

4.5

4.1

4.7

2004 Top 25 Utah Export Destinations (table values in thousands of US dollars)

Utah's largest markets for merchandise exports are in Western Europe, East Asia, Canada, and Mexico. East Asia ranked as the number two market for the first time, an increase over 2004 and 2005 when it was the fourth-largest destination for Utah exports.

Utah's Merchandise Exports by Industry. Utah's leading merchandise export in 2006 was primary metal products-- almost exclusively gold. Primary metals exports increased by 29.1% over 2005 to $2.9 billion. Primary metals constituted 42.2% of Utah exports in 2006, an increase over 2005 when it was 36.9% of total exports. Other leading export categories for 2006 included: computers and electronics ($612.7 million, or 9.0%); transportation equipment ($603.2 million, or 8.8%); minerals ($526.0 million, or 7.7%); and chemicals ($463.9 million, or 6.8%).

Significant Issues

Gold. Utah continues to be a large exporter of gold. In 2006, the amount of gold exported from Utah was larger than what is mined in Utah. Analysis of the Census Bureau data seem to indicate that partially refined ore from other western states is shipped to Utah for final processing. Although the primary destination for the gold bouillon processed in Utah continues to be customers which are in the United States, the shipment of gold outside of the United States constituted 42% of Utah's exports in 2006, an increase over 2005 when gold exports totaled 35% of exports. Gold exports constituted 95% of all export dollars to the United Kingdom and 92% of export dollars to Switzerland.

As in 2005, when gold exports were valued at $2.2 billion to Utah, gold exports for 2006 do not provide a substantial number of jobs for the state, and inflate the amount of goods Utah exports. For this reason, it is important to look at exports without gold bouillon. Even with this exclusion, Utah's exports had a very strong year, increasing by 3.4% to $4.0 billion.

Sources:
U.S. Census Bureau, Foreign Trade Division
Utah 2004 Economic Report to the Governor