Utah Quarterly
EXPORT REPORT Q1 2018
UTAH THINK, ACT, AND SUCCEED GLOBALLY EXPANDING PROSPERITY ACROSS THE STATE BY ATTRACTINGHELPING INVESTMENT AND INCREASING EXPORTS
Utah Export Snapshot – Q1 2018
Q1 2018
2017
2018
% Change
$2.97 BILLION
$3.13 BILLION
5.32%
Breakdown of Exports Metals vs Value Added
WTC Utah Observations Utah Q1 exports increased more than 5% from Q1 2017. This increase is the result of increased primary metals exports, including $1.2 billion exported in March. The leading importer of Utah metals in Q1 was the United Kingdom. Beyond metal exports, Utah’s monthly Value Added (non-metal) exports rose by $200 million over Q1, and sits slightly below peak levels reached in March 2017 (see pg. 5). Canada, Hong Kong, and Mexico all continue to be top export markets for Utah goods, especially in Utah’s key economic cluster industries (see pg. 7).
Metals (NAICS 212 & 331)
Top 5 Export Destinations
Value Added
United Kingdom Canada Hong Kong 56.6%
43.4%
Mexico Japan
For more specific trade data, contact the WTC Utah trade services team at 435-512-1890. *All data used in this report was obtained from usatrade.census.gov. The most recent data is two months behind due to a lag in the data.
2
Utah Exports (Metals, Computer & Electronics, All Other Exports) 2018 $1,875
$2,000
Exports in millions of U.S. $
$1,800 $548
$1,600 $1,400
$111
$1,200
All Other Exports
$1,000 $800
Computer & Electronics $628
$1,216
$600 $400 $200 $0
Metals (NAICS 212 & 331)
$629
$431
$465
$102 $95
$114 $49 February
January
March
April
May
June
July
August
September
October
November
December
2017 & 2018 Exports by Month $2,000
$1,875
Exports in millions of U.S. $
$1,800 $1,600 $1,400
$1,262
$1,200 $1,000
$1,010
$1,132
$1,086
$963
$800
$931
$916
$629 $756
$600 $400
$1,206
$728
2017
$939
2018 $655
$628.19
$200 $0 January
February
March
April
May
June
July
August
September
October
November December
3
Utah’s Top 5 Export Commodities Q1 2018 Computer & Electronic Products (NAICS 334) Metals (NAICS 212 & 331) Chemicals (NAICS 325) Food & Kindred Products (NAICS 311) Transportation Equipment (NAICS 336) Other
21.8%
10.4%
7.1% 43.4%
7.6% 9.5%
4
5 Year Total Export Overview by Month $2.00
Exports in Billions of U.S. $
$1.80 $1.60 $1.40 $1.20
Total Exports
$1.00 $0.80
Metals
$0.60
Value Added
$0.40 $0.20 Mar-18
Jan-18
Nov-17
Sep-17
Jul-17
May-17
Mar-17
Jan-17
Nov-16
Sep-16
Jul-16
May-16
Mar-16
Jan-16
Nov-15
Sep-15
Jul-15
May-15
Mar-15
Jan-15
Nov-14
Sep-14
Jul-14
May-14
Mar-14
Jan-14
Nov-13
Sep-13
Jul-13
May-13
Mar-13
$0.00
10-Year Export Overview Exports in Billions of U.S. $
$25
$20
$16.1
$15
$10
$5 $-
$19.3
$19.0 $13.8 $10.3
$12.6
$10.3 $8.0
$5.5 $4.8
$5.7 $4.6
2008
2009
$5.8
2010
$6.4
$12.2
$12.5
$6.8
$8.5 $7.6
$7.7
$13.3
$7.4 $5.9
$4.5
2011
Metals (NAICS 212 & 331)
2012
2013 Value Added
2014
2015
$12.1
$7.1 $5.0
2016
$11.6
$7.4 $4.2
2017
All Commodities
5
Exports in Millions of U.S. $
2018 Top 5 Export Destinations by Month $1,600 $1,400
Switzerland
$272
$1,200
Hong Kong
$1,000
United Kingdom
$800 $600 $400 $200 $-
Netherlands
$926
China Japan
$$51 $44 $60 $90
$$41 $57 $60 $98
$55 $61 $119
January
February
March
Mexico Canada April
May
June
July
August
6
Q1 2018 Top Export Destinations by Utah Economic Clusters In millions of U.S. $
Aerospace & Defense - $343.70 1. 2. 3. 4. 5.
Germany Japan Italy China France
Life Sciences - $229.78 1. 2. 3. 4. 5.
Netherlands Japan China France Canada
Energy & Natural Resources - $168.28 1. 2. 3. 4. 5.
Mexico Japan Belgium Canada South Korea
Outdoor Recreation - $48.37 1. 2. 3. 4. 5.
Canada China Netherlands United Kingdom Japan
IT & Software - $158.65 1. 2. 3. 4. 5.
Taiwan Singapore Canada Mexico Hong Kong
Non-Cluster - $2,183 1. 2. 3. 4. 5.
United Kingdom Hong Kong Canada Mexico China
7
Utah Export Stats March 2018 March 2017
March 2018
% change 20182017
$ 2,973,760,288
$ 3,131,933,089
5.32%
Total Exports Top 5 Industries (NAICS) Metals (NAICS 212 & 331)
$1,181,661,905
$1,360,608,386
334 Computer & Electronic Products
$465,941,936
$326,703,521
325 Chemicals
$258,928,883
$298,593,246
311 Food & Kindred Products
$212,389,027
$238,570,644
336 Transportation Equipment
$233,888,437
$223,347,055
15.14% -29.88% 15.32% 12.33% -4.51%
Top 5 Destinations (ranked by $ value) United Kingdom
$318,829,320
$956,674,813
Canada
$320,366,032
$306,939,694
Hong Kong
$800,562,859
$298,789,969
Mexico
$172,921,145
$181,180,598
Japan
$141,140,566
$156,352,939
200.06% -4.19% -62.68% 4.78% 10.78%
8