UtahState in United States
2020 Economic Complexity : 0.094, Rank 41 of 52
Dec 2022 Trade Exports | Imports: $1.59B | $1.65B, 28 of 54 | 33 of 54
Dec 2022 Country Destination | Origin: United Kingdom | Mexico , $801M | $437M
Dec 2022 Product Exports | Imports: Gold in unwrought forms non-monetary | Gold in unwrought forms non-monetary , $789M | $321M
Overview This page contains the latest international trade data for Utah. In December 2022 Utah was the number 28 in total exports and the number 31 in total imports in United States.
Exports In 2022, United States' Utah exported $16.5B, making it the 28th largest exporter out of the 53 exporters in United States. In 2022 the top exports of Utah were Gold in unwrought forms non-monetary ($6.97B), Needles, catheters, cannulae etc, (medical) ($554M), Food preparations nes ($519M), Other Aircraft parts ($401M), and Bovine cuts boneless, frozen ($264M).
Imports In 2022, United States' Utah imported $19.1B, making it the 31st largest importer out of the 53 importers in United States. In 2022 top imports of Utah were Gold in unwrought forms non-monetary ($3B), Commodities not specified according to kind ($1.19B), Communication apparatus (excluding telephone sets or... ($632M), Silver in unwrought forms ($547M), and Road tractors for semi-trailers, with only... ($475M).
Economic Complexity In 2020, the highest complexity exports of Utah according to the product complexity index (PCI) are Micro-Organism Culture Preparations (1.23), Vitamins (1.06), Pearl Products (-0.51), Molybdenum Ore (-0.55), and Detonating Fuses (-0.74). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
December, 2022
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%).
EXPORT GROWTH (December 2021 - December 2022): $184M, (13.1%)
IMPORT GROWTH (December 2021 - December 2022): $-86.8M, (-4.99%)
This section shows exports and imports data at subnational level for Utah. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Utah over time.
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Top Destination (2022): United Kingdom, $7.08B
Top Product (2022): Gold in unwrought forms non-monetary, $6.97B
In 2022 the top export destinations of Utah were United Kingdom ($7.08B), Canada ($1.69B), Mexico ($1.08B), China ($1.06B), and Japan ($765M).
In 2022 the top exports of Utah were Gold in unwrought forms non-monetary ($6.97B), Needles, catheters, cannulae etc, (medical) ($554M), Food preparations nes ($519M), Other Aircraft parts ($401M), and Bovine cuts boneless, frozen ($264M).
Top Origin (2022): Mexico, $4.59B
Top Import (2022): Gold in unwrought forms non-monetary, $3B
In 2022 the top import origins of Utah were Mexico ($4.59B), China ($3.26B), Canada ($3B), Taiwan ($988M), and Vietnam ($933M).
In 2022 the top imports of Utah were Gold in unwrought forms non-monetary ($3B), Commodities not specified according to kind ($1.19B), Communication apparatus (excluding telephone sets or... ($632M), Silver in unwrought forms ($547M), and Road tractors for semi-trailers, with only... ($475M).
Economic Complexity (2022): 0.094
Utah ranks 41st out of the 53 states and territories in United States according to ECI.
The Economic Complexity Index, or ECI, is a measure of an economy’s capacity which can be inferred from data connecting locations to the activities that are present in them. For more info about Economic Complexity, visit the Economic Complexity page.
Estimated using exports data.
The top export opportunities according to the relatedness level, without considering those products were Utah already has a comparative advantage, are led by Aircraft Launch Gear (0.16), Scrap Iron (0.15), Rough Wood (0.15), Rough Wood (0.15), and Concentrated Milk (0.15).
The highest complexity exports of Utah according to the product complexity index (PCI) are Micro-Organism Culture Preparations (1.23), Vitamins (1.06), Pearl Products (-0.51), Molybdenum Ore (-0.55), and Detonating Fuses (-0.74). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The most specialized products according to the RCA index are led by Prepared Explosives (63.6), Detonating Fuses (47.5), Micro-Organism Culture Preparations (38.3), Pearl Products (35.7), and Forage Crops (32.1).
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since Utah is more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a territory's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions. Bubble size corresponds to exports value by year 2020.
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