It’s no secret exports have been a bright spot in the Utah economy over the past several years. Exports grew from $13.8 billion in 2010 to nearly $19 billion in 2011, and new numbers show the momentum continues to build.
According to a report by the International Trade Administration, Utah’s exports in the first half of 2012 are up 14 percent from the same period in 2011. From $8.5 billion, this year Utah exported $9.7 billion between January and June. Over the past five years alone, there’s been an overall 142.3 percent growth in Utah merchandise exports. This growth is better than President Barack Obama’s National Export initiative to double exports by 2015 in an effort to create two million jobs nationwide.
Not bad for a landlocked state without a seaport.
Nationally, exports have grown by seven percent in the first half of the year. International exports support high paying jobs and that means the economy is heading in the right direction. What these new statistics also show is that Utah is two-times ahead of the game.
Utah exports metal manufactures, computer and electronic products, chemicals, food, and transportation equipment. Any business, large or small, that produces goods can export them. The Salt Lake Chamber’s strategic partner, the World Trade Center Utah specializes in helping Utah businesses enter profitable global markets.
Not only do international exports bring revenue to Utah businesses–they also create and support more Utah jobs. By getting involved in exports, your business is helping to create jobs. Don’t wait to start exporting!
In January of 2011, the Salt Lake Chamber outlined a 10-point plan called the Utah Jobs Agenda to create 100,000 jobs in 1,000 days. This plan emphasizes the importance of exports and education (among other things) in the creation and support of Utah jobs.