International Trade and Diplomacy
T
he mission of the International Trade & Diplomacy Office (ITDO) is threefold: • Aid in the increase of international trade through a range of programs and advisory services. • Support Utah businesses as an educational resource. • Leverage diplomatic contacts to better position Utah and its companies around the world.
Job Creation In 2006, Business Roundtable estimated that international trade supported 259,724 jobs in Utah’s economy. From 2005 to 2008 Utah’s GDP grew by almost 13%. Exports1 for the same period grew by 71%. Exports of goods and services in 2008 accounted for 16.2% of Utah’s gross domestic product (GDP).2 Exports help fuel Utah’s job creation, especially for small and mediumsized enterprises (SMEs). A total of 2,236 companies exported goods from Utah locations in 2006. Of those companies 85 percent were SMEs.3 Over 14.8% of all Utah manufacturing workers depend on exports for their jobs.4 As export figures grow, companies continue to expand and increase staff in order to manageably sustain business development. Regional Comparison The Western U.S. regional comparison highlights international trade data for Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming. Utah commodity exports were significantly higher than the national average; 71.21% versus 43.51%. Utah ranked third for commodity export growth for the same period among the Western United States region behind Montana and Washington.
2008 At a Glance Overall Export Growth (’05-’08): 71.2% Utah GDP Growth (’05-’08): 12.7% Significant Country Growth (’05-’08): • China 145.9% • India 816.9% • Canada 49.9% • Mexico 86.8% Jobs Supported by International Trade (2006): 259,724 Trade Delegation Visits: 36 Diplomatic Visits: 45 Companies Assisted: 317 Educational Seminars: 33 Seminar Attendees: 852 Trade Missions: 6 • Chile (Aug 2008) • Japan (Sep 2008) • Malaysia (Sep 2008) • Mexico (Sep 2008) • Brazil (Dec 2008) • Israel (May 2009)
Region
% 2005-2008
Montana
94.46%
Washington
76.23%
Utah
71.21%
Wyoming
61.19%
Oregon
56.06%
Nevada
55.26%
Idaho
52.38%
US
43.51%
Arizona
32.08%
California
24.08%
Colorado
13.21%
New Mexico
9.3%
Utah ranked fifth among Western states for total exports behind California, Washington, Arizona and Oregon.
1 Combined goods and estimated services 2 U.S. Department of Commerce, Bureau of Economic Analysis, Regional Economic Accounts, http://www.bea.gov/newsreleases/regional/gdp_state/gsp_newsrelease.htm 3 U.S. Commercial Service, Utah Export Assistance Center, Export Facts and Statistics, http://www.buyusa.gov/utah/exportfactsandstatistics.html 4 U.S. Commercial Service, Utah Export Assistance Center, Export Facts and Statistics, http://www.buyusa.gov/utah/exportfactsandstatistics.html
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Governor’s Office of Economic Development • Annual Report 2009
