Utah

State in United States

2019
Economic
Complexity
: 0.081, Rank 41 of 53

Jan 2021
Trade
Exports | Imports
: $1.58B | $1.37B, 24 of 54 | 30 of 54

Jan 2021
Country
Destination | Origin
: United Kingdom | Mexico , $857M  | $400M

Jan 2021
Product
Exports | Imports
: Gold | Gold , $869M  | $247M

Overview: This page contains the latest international trade data for Utah, including export and import data.

Exports: In 2020, United States' Utah exported $17.7B, making it the 23rd largest exporter out of the 53 exporters in United States. In 2020 the top exports of Utah were Gold in unwrought forms non-monetary ($8.73B), Food preparations nes ($544M), Molybdenum ores and concentrates except roasted ($418M), Needles, catheters, cannulae etc, (medical) ($327M), and Electronic integrated circuits: memories ($321M).

Imports: In 2020, United States' Utah imported $15.5B, making it the 30th largest importer out of the 53 importers in United States. In 2020 top imports of Utah were Gold in unwrought forms non-monetary ($3B), Commodities not specified according to kind ($1.1B), Silver in unwrought forms ($701M), Artificial parts of the body: excluding... ($563M), and Communication apparatus (excluding telephone sets or... ($436M).

Economic Complexity: In 2019, the highest complexity exports of Utah according to the product complexity index (PCI) are Oscilloscopes (1.77), Chemical Analysis Instruments (1.7), Glass Working Machines (1.64), Interchangeable Tool Parts (1.56), and Mirrors and Lenses (1.56). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Comparison in Time

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This section shows the differences between Utah's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit United States's country profile.

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Yearly Exports

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Top Destination (2020): United Kingdom, $8.91B

Top Product (2020): Gold in unwrought forms non-monetary, $8.73B

In 2020 the top export destinations of Utah were United Kingdom ($8.91B), Canada ($1.5B), Mexico ($943M), China ($739M), and Japan ($664M).

In 2020 the top exports of Utah were Gold in unwrought forms non-monetary ($8.73B), Food preparations nes ($544M), Molybdenum ores and concentrates except roasted ($418M), Needles, catheters, cannulae etc, (medical) ($327M), and Electronic integrated circuits: memories ($321M).

Exports Dynamics

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Fastest Growing Exports Destination (Jan 2020 - Jan 2021)

Rapidly Declining Export Origins (Jan 2020 - Jan 2021)

Yearly Imports

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Top Origin (2020): Mexico, $4.29B

Top Import (2020): Gold in unwrought forms non-monetary, $3B

In 2020 the top import origins of Utah were Mexico ($4.29B), China ($2.94B), Canada ($2.18B), Taiwan ($633M), and Malaysia ($570M).

In 2020 the top imports of Utah were Gold in unwrought forms non-monetary ($3B), Commodities not specified according to kind ($1.1B), Silver in unwrought forms ($701M), Artificial parts of the body: excluding... ($563M), and Communication apparatus (excluding telephone sets or... ($436M).

Imports Dynamics

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Fastest Growing Import Origins (Jan 2020 - Jan 2021)

Rapidly Declining Import Origins (Jan 2020 - Jan 2021)

Economic Complexity

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Economic Complexity of United States

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Utah ranks 41st out of the 53 states and territories in United States according to ECI.

Estimated using exports data.

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Export Opportunities by Relatedness

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The top export opportunities according to the relatedness level, without considering those products were Utah already has a comparative advantage, are led by Paintings (0.13), Aircraft Launch Gear (0.13), Gas Turbines (0.12), Horses (0.12), and Planes, Helicopters, and/or Spacecraft (0.12).

Most Complex Products by PCI

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The highest complexity exports of Utah according to the product complexity index (PCI) are Oscilloscopes (1.77), Chemical Analysis Instruments (1.7), Glass Working Machines (1.64), Interchangeable Tool Parts (1.56), and Mirrors and Lenses (1.56). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Most Specialized Products by RCA Index

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The most specialized products according to the RCA index are led by Forage Crops (52.6), Molybdenum Ore (51.5), Pearl Products (46.9), Detonating Fuses (45.2), and Essential Oils (40.2).

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.

Relatedness Space

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This network shows the products most related to the production structure of  Utah. These are products that tend to be co-exported with the products that Utah exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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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.