Overview: In January 2021 Utah exported $1.58B and imported $1.37B, resulting in a positive trade balance of $207M. Between January 2020 and January 2021 the exports of Utah have increased by $276M (21.2%) from $1.3B to $1.58B, while imports increased by $143M (11.6%) from $1.23B to $1.37B.
Trade: In January 2021, the top exports of Utah were Gold ($869M), Other Edible Preparations ($41.2M), Medical Instruments ($38.6M), Vehicle Parts ($30.2M), and Blank Audio Media ($28.8M). In January 2021 the top imports of Utah were Gold ($247M), Integrated Circuits ($86.7M), Commodities not elsewhere specified ($82.9M), Silver ($71.2M), and Vehicle Parts ($58.4M).
Destinations: In January 2021, Utah exported mostly to United Kingdom ($857M), Mexico ($109M), Canada ($101M), China ($72.4M), and Japan ($51.6M), and imported mostly from Mexico ($400M), China ($295M), Canada ($174M), Malaysia ($117M), and Taiwan ($61.5M).
Growth: In January 2021, the increase in Utah's year-by-year exports was explained primarily by an increase in exports to United Kingdom ($254M or 42.1%), Mexico ($42.6M or 63.8%), and China ($42.2M or 140%), and product exports increase in Gold ($241M or 38.5%), Blank Audio Media ($28M or 3.4k%), and Telephones ($19.3M or 374%). In January 2021, the increase in Utah's year-by-year imports was explained primarily by an increase in imports from Malaysia ($98M or 531%), China ($80.2M or 37.2%), and Mexico ($67.1M or 20.2%), and product imports increase in Integrated Circuits ($86.4M or 29k%), Sports Equipment ($34.2M or 253%), and Office Machine Parts ($30.4M or 2.77k%).