Recently released data from the International Trade Administration shows that the state of Utah has significantly increased their amount of merchandise exports from last year.
Halfway through 2012, the amount of exports coming from Utah has increased by 14 percent. Six months into this year Utah has exported $9.7 billion worth of goods, compared to the $8.5 billion that was done in 2011. Lew Cramer is the CEO of the World Trade Center Utah.
"Probably 55-60 percent of our exports are gold, copper, molybdenum and silver and have been for 100 years, maybe for the next 100 years," Cramer says. "But the fastest growth area continues to be the IM Flash work in Lehi, that does- probably- the most efficient fabrication of flash drives in the world."
David Fiscus is Director of the U.S. and Foreign Commercial Service Office in Utah. He says that these high export numbers are a good sign for potential economic issues.
"You know, the more companies we have exporting and competing internationally here in Utah, the more diversified our economy is. And the better we are able to, as a state, withstand future downturns," he says.
Utah’s 14 percent increase in exports is double the national average for the first half of this year.