Overview In December 2022 Utah exported $1.59B and imported $1.65B, resulting in a negative trade balance of $58.6M. Between December 2021 and December 2022 the exports of Utah have increased by $184M (13.1%) from $1.41B to $1.59B, while imports decreased by $-86.8M (-4.99%) from $1.74B to $1.65B.
Trade In December 2022, the top exports of Utah were Gold ($789M), Medical Instruments ($71.6M), Delivery Trucks ($40M), Other Edible Preparations ($36.3M), and Aircraft Parts ($32.3M). In December 2022 the top imports of Utah were Gold ($326M), Electric Batteries ($151M), Commodities not elsewhere specified ($91.1M), Silver ($82.7M), and Motor vehicles; parts and accessories (8701... ($71.2M).
Destinations In December 2022, Utah exported mostly to United Kingdom ($801M), Canada ($121M), Mexico ($107M), China ($75.5M), and Australia ($61.8M), and imported mostly from Mexico ($437M), China ($322M), Canada ($209M), Vietnam ($102M), and Argentina ($99.4M).
Growth In December 2022, the increase in Utah's year-by-year exports was explained primarily by an increase in exports to Canada ($13.8M or 13.6%), France ($9.94M or 56.9%), and China ($9.63M or 13.6%), and product exports increase in Medical Instruments ($28.3M or 76.5%), Frozen Bovine Meat ($19M or 266%), and Laboratory Reagents ($14.8M or 62.7%). In December 2022, the decrease in Utah's year-by-year imports was explained primarily by an decrease in imports from Malaysia ($-50.5M or -43.3%), China ($-25.7M or -8.74%), and Mexico ($-18.8M or -4.71%), and product imports decrease in Integrated Circuits ($-62.2M or -71.7%), Blank Audio Media ($-27M or -92.8%), and Sports Equipment ($-23.4M or -49.9%).