WASHINGTON - The International Trade Administration recently announced new data that show Utah merchandise exports increased 37 percent in 2011 compared to 2010, growing from $13.8 billion to $18.9 billion. This percentage growth topped the 16 percent national average for merchandise export growth for the same period.
"Utah exporters continue to sell some of the most innovative products and services to world destinations, advancing President Obama's National Export Initiative that is on pace to double U.S. exports by the end of 2014," said Francisco SAdegnchez, Under Secretary for International Trade. "Eighty-five percent of world economic growth over the next five years will take place outside of the United States. As the U.S. economy builds momentum, we must continue to equip U.S. businesses with all the necessary tools to increase exports that support millions of high-paying jobs across the country."
Utah's 2011 merchandise export sales increased to many top destinations, including Thailand (up 311 percent), Hong Kong (302 percent), Australia (124 percent), the United Kingdom (51 percent), and Taiwan (26 percent). Key merchandise export categories include primary metal manufactures, computer and electronic products, chemicals, transportation equipment, and food and kindred products. "The growth in Utah exports shows that even in these challenging economic times, many local companies are working to enhance their competitiveness and bottom line by making new sales abroad," said Dave Fiscus, Director of the U.S. Commercial Service in Utah. "One of the most important aspects of engaging globally is that it helps firms to diversify their portfolios and better withstand downturns in the domestic economy."
To further expand the reach and availability of export programs to businesses nationwide, the ITA has signed a Memorandum of Intent with the State International Development Organizations, Inc. (SIDO). SIDO supports state international trade agencies, and the memorandum expands cooperative efforts in the promotion of federal and state export programs such as trade missions and overseas business matchmaking services.