Utah exported $22.4 billion of goods in 2025, contributing $9.2 billion to the state’s gross domestic product according to a new report published by Zions Bank and the Kem C. Gardner Policy Institute. Senior economist at Zions Bank, Robert Spendlove, presented key takeaways from the report at the Zions Bank Crossroads of the World International Trade Summit.
“Utah continues to hit hard, and we continue to be a leader in our export activity,” Spendlove said, “I am confident that our state will continue to be one of the leaders. We’ll continue to reach out and grow and thrive in this area.”
Key takeaways:
- Utah exports – Utah’s goods exports totaled $22.4 billion in 2025 and shipped to 198 countries. After adjusting for inflation, the state’s 2025 exports increased by $298.4 million over 2024, a 1.4% rise.
- Gold – Unwrought gold, almost exclusively exported to the United Kingdom, represented 37.1% of all Utah exports. Utah export values rise and fall because of the variation in both the volume of gold exported and the price of gold.
- Utah imports – Utah’s merchandise imports totaled $28.6 billion in 2025 and shipped from 144 countries. Taiwan represents the top country of origin with nearly $6 billion in goods provided to Utah, $5.4 billion of which include computer and electronic products.
- Trade policy – U.S. trade policy centers around improving the balance of trade, reviving American manufacturing, providing revenue to the federal government, and increasing domestic production of critical minerals.
- Tariffs – Effective tariff rates remained at or below 3.0% from the mid-1990s through 2024. They jumped to 14.3% in 2025 and currently stand at an estimated 10.5%. Elevated customs duties in the second half of 2025 total $366.4 billion in annualized revenue for the federal government.
- Local impact – Some Utah businesses have responded to the new tariffs and uncertainty by raising prices and holding back on hiring and investment, while others see opportunities to strengthen domestic supply chains.
