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Utah Quarterly

EXPORT REPORT Q4 2017

HELPING UTAH THINK, ACT, AND SUCCEED GLOBALLY EXPANDING PROSPERITY ACROSS THE STATE BY ATTRACTING INVESTMENT AND INCREASING EXPORTS


Utah Export Snapshot – Q4 2017

Year-to-date as of December

2016

2017

% Change

$12.1 BILLION

$11.6 BILLION

-3.8%

Breakdown of Exports Metals vs Value Added

WTC Utah Observations Utah exports 2017 experienced a slight decrease compared to 2016. The decrease can be attributed to a decrease in the value of primary metals, such as copper and gold, which occurred primarily in Q4. This was partially offset by an increase in value added exports.

Metals (NAICS 212 & 331)

Value Added

Canada

22%

As shown in the adjacent pie chart, value added exports made up 78% of Utah’s total exports in Q4 2017. For the year 2017, metal exports constituted 36% of total exports. Canada, Hong Kong, China and Mexico continue to be top markets for exports from Utah. Exports to Taiwan increased by 79% compared to Q4 2016.

Top 5 Export Destinations

Hong Kong Mexico Taiwan

78%

China

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.

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Exports in millions of U.S. $

Utah Exports (Metals, Computer & Electronics, All Other Exports) 2017 $1,400 $1,200

$1,261 $1,086

$962

$1,000 $800 $600

$764

$395

$439

$454 $152

$413

$168

$146

$538

$478

$558

$391

$285

$295

$138 $113

$344

September

October

November

$0 January

February

March

April

May

Metals (NAICS 212 & 331)

June

July

August

Computer & Electronics

$135

$167

$142

$357

$460

$468

$163 $648

$205

$728

$488

$179

$939

$930

$455

$173

$151

$439

$1,009

$916

$468

$547

$400 $200

$1,205

$1,154

$660

$482 $133 $45 December

All Other Exports

2016 & 2017 Exports by Month

Exports in millions of U.S. $

$1,400

$1,000

$1,242 $1,135

$1,171

1,086

$962

$1,261 $871

$1,073 $920

916

$1,073 $911

1,009

$764

$800 $600

1,205

$1,154

$1,200

$1,045 939

$1,027

930 728

$706

660

2016 2017

$648

$400 $200 $0 January

February

March

April

May

June

July

August

September

October

November December

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Utah's Top 5 Export Commodities Quarter 4 2017

Metals (NAICS 212 & 331) Computer & Electronic Products (NAICS 334) Chemicals (NAICS 325) Food & Kindred Products (NAICS 311) Transportation Equipment (NAICS 336)

14% 30% 15%

17%

24%

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5-Year Rolling Total Export Overview by Month $1.80 Exports in Billions of U.S. $

$1.60 $1.40 $1.20 $1.00

Total Exports

$0.80

Metals

$0.60

Value Added

$0.40 $0.20 Dec-17

Oct-17

Aug-17

Jun-17

Apr-17

Feb-17

Dec-16

Oct-16

Aug-16

Jun-16

Apr-16

Feb-16

Dec-15

Oct-15

Aug-15

Jun-15

Apr-15

Feb-15

Dec-14

Oct-14

Aug-14

Jun-14

Apr-14

Feb-14

Dec-13

Oct-13

Aug-13

Jun-13

Apr-13

Feb-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

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2017 Top 5 Export Destinations by Month Utah Exports in Millions of U.S. $

$900

Japan $58

$800 $700 $600

$92

$51 $51 $62

$73 $76

$98

$500 $221

$400 $300 $200 $100 $0

$58 $58 $505

$84 $103 $89

$118

$45 $50 $65

$471

$94 $100

$378

$66 $58 $99

$340

$208

Brazil

$59 $60

$132

$94 $177

$53 $63 $58

$259

$114

$98

Mexico

$55 $63 $64

$56 $58 $53

$359

$88 $175

Taiwan

$48 $64 $60 $61 $101

$92

$264

China $53 $57 $56 $57

United Kingdom

$105

Hong Kong

Canada

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Q4 2017 Top Export Destinations by Utah Economic Clusters In millions of U.S. $

Aerospace & Defense - $365.90 1. 2. 3. 4. 5.

Germany Japan Canada China Italy

Life Sciences - $223.53 1. 2. 3. 4. 5.

Netherlands China Japan Canada France

Energy & Natural Resources - $179.73 1. 2. 3. 4. 5.

Japan Mexico Canada Belgium Taiwan

Outdoor Recreation - $43.78 1. 2. 3. 4. 5.

Canada China Netherlands Japan United Kingdom

IT & Software - $239.35 1. 2. 3. 4. 5.

Taiwan Singapore Canada Hong Kong South Korea

Non-Cluster - $1,275 1. 2. 3. 4. 5.

Hong Kong Canada Mexico China South Korea

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Utah Export Stats Quarter 4 2017

Total Exports

Quarter 4 2017

Quarter 4 2016

$ 2,327,197,492

$ 2,981,983,042

% change 2017-2016

-21.96%

Top 5 Industries (NAICS) Metals (NAICS 212 & 331)

$501,530,856

$1,283,418,689

-60.92%

334 Computer & Electronic Products

$406,266,796

358,130,642

13.44%

325 Chemicals

$283,341,106

$273,177,096

3.72%

311 Food & Kindred Products

$250,238,718

$240,365,586

4.11%

336 Transportation Equipment

$232,007,632

$214,618,356

8.10%

Top 5 Destinations (ranked by $ value) Canada

$297,985,306

$313,508,556

-4.95%

Hong Kong

$292,574,193

516,433,525

-43.35%

Mexico

$184,939,010

$181,806,305

1.72%

Taiwan

$168,861,634

$94,327,085

79.02%

China

$165,086,130

$162,956,710

1.31%

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2017 Q4 Export Report  
2017 Q4 Export Report  
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