Economic Development Par tners
Utah’s Path To Economic Recovery Runs Directly Through Global Markets By: World Trade Center Utah
Despite the pandemic’s unprecedented global economic disruption—or perhaps because of the opportunities hidden within the crisis—Utah’s path to economic recovery and revitalization runs directly through global markets, just as it did a decade ago. Businesses that export grow faster during economic expansions and are far more resilient during economic downturns. The United States International Trade Commission reported that during the 2008-2009
UAEInbound18: 2018 Business tour of Utah for the Trade and Commercial Office at the Embassy of the United Arab Emirates (UAE) and Commercial Counselor for the UAE to the United States of America.
financial crisis, small and medium-sized businesses that exported had more than twice the total revenue of their non-exporting counterparts. These exporters had revenue growth of 37% between 2005 and 2009, while total revenue declined by 7% for non-exporting businesses over the same period. International trade and investment now support nearly one in every four jobs in Utah, with small businesses accounting for 85% of Utah’s exporters. Last year, international sales added nearly $5 billion in additional revenue for these small business exporters, and Utah’s export growth rate has led the nation for the past two years.
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