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Foreign Trade and Investment in the Development of Idaho

Posted on: April 21, 2008

The major chunk of the Idaho’s economy comes form International trade and commerce. Most of the corporations of Idaho are involved in the export and import business, and about 835 companies are medium-sized enterprises, which employ less than 500 employees. People find more employment opportunities due to foreign and domestic investments. In 2005, foreign-controlled companies employed 12,200 workers in Idaho. Main sources of Idaho’s foreign investment were from the European nations like United Kingdom, France, Germany and Switzerland. Of these jobs in Idaho, over one-quarter (27 percent or 3,300 workers) were in the manufacturing sector in 2005. Foreign-controlled companies engaged around 5.2 percent of manufacturing workers in Idaho in 2005. Foreign investment in Idaho was responsible for 2.3 percent of the state’s total private-industry employment. Export-supported jobs linked to manufacturing account for an estimated 4.8 percent of Idaho’s total private-sector employment. Nearly one-seventh (14.1 percent) of all manufacturing workers in Idaho depend on exports for their jobs.

In 2007, Idaho’s export shipments of merchandise totaled about $4.7 billion, which has increased by 124% compared to $2.1 billion in 2003. This change is phenomenal among the US states. Idaho exported to 157 different foreign destinations in 2007. Singapore is the Idaho’s largest export market. The state in 2007 has exported $1.1 billion worth of merchandise to Singapore. Other top manufactured exports in 2007 were processed foods ($360 million), paper products ($176 million), and machinery manufactures ($154 million). Idaho’s principal export category by far is computers and electronic equipment, which accounted nearly 70 percent, or $3.3 billion, of state’s total merchandise exports in 2007. Small and medium-sized firms generated 16
percent of Idaho’s total exports of merchandise.

Foreign investment in Idaho was responsible for 2.3 percent of the state’s total private-industry employment. Chief sources of Idaho’s
foreign-investment supported jobs in 2002 were Switzerland, Canada,
United Kingdom and France. Idaho exported globally to 141 foreign
destinations in 2003. The state’s largest export market is NAFTA member
Canada. Idaho exported $362 million worth of merchandise to Canada in 2003, which was over one-sixth of the state total for that year. Canada was followed by the United Kingdom ($350 million) and Japan ($269 million). Other top markets in 2003 included Singapore, Taiwan, Hong Kong, China, the Philippines, Malaysia, and South Korea.

Some Facts:

• Idaho exports over 25 percent of the products it produces. • Idaho exports exceeded $3.7 billion in 2006. • More than 50,000 Idaho jobs – nearly 10 percent – are linked to exports. • High-tech goods account for 72 percent of all Idaho exports. • Key export markets for Idaho’s goods in 2006 included China, Canada, Singapore, United Kingdom, Taiwan and Japan. Source: http://trade.idaho.gov/

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