IDAHO REPORT

2019 UPDATE

UAE – U.S.

HISTORICAL TRADE RELATIONSHIPS

Table of Contents

Section Contents Page

I US Exports to the UAE 3

II UAE-Supported Employment 9

III Foreign Direct Investment 10

IV Appendices 13

3

II

50th $18.3M

Food Beverage, and Tobacco Product Manufacturing

Largest Exporting State Four-Year Total Exports

Top Exporting Sector

Miscellaneous Manufacturing $9.4M 46

Sector with Largest Increase in Exports Since 2018

Trade Deficit in 2019

Jobs Supported by Exports

AA BB CC

DD EE FF

Idaho Exports to the UAE

Idaho ranked 50th among U.S. states and territories with $18.3M in goods exported to the UAE between 2016 and 2019

4

Exhibit I.1 | U.S. State Rankings of Exports to the UAE ($ in Billions)

AA

IIIdaho Exports to the UAE

Source: US Census Bureau USA Trade Online (excluding exports where state was not specified)

5

Total value of 2019 goods exported is second highest in last four yearsBB

IIIdaho Exports to the UAE

Exhibit I.2 | Idaho Export Values and Percent of Total by Year

Source: US Census Bureau USA Trade Online (excluding exports where state was not specified)

$3.7M

$5.3M

$4.6M $4.7M

2016 2017 2018 2019

Idaho Annual Exports to the UAE

0.02%

0.03%

0.02% 0.02%

2016 2017 2018 2019

Idaho Exports As % of Total U.S.-UAE Exports

$ in millions

Rank State 2016 2017 2018 2019 Trend Line 2016-2019

All U.S. States $22,027.0 $19,690.8 $19,177.3 $19,684.7 $80,579.8

50 Idaho 0.0% 0.0% 0.0% 0.0% 0.0%

Idaho $3.7 $5.3 $4.6 $4.7 $18.3

1 Washington 18.9% 20.8% 10.8% 3.6% 13.7%

Washington $4,157.6 $4,104.7 $2,080.5 $717.4 $11,060.2

5 Florida 6.8% 6.3% 5.0% 5.1% 5.8%

Florida $1,487.5 $1,244.6 $949.9 $1,011.3 $4,693.3

10 Illinois 2.8% 2.6% 2.6% 2.0% 2.5%

Illinois $622.5 $503.5 $494.3 $402.3 $2,022.6

20 Kentucky 0.8% 0.9% 1.3% 2.5% 1.3%

Kentucky $168.2 $172.8 $244.7 $484.2 $1,069.9

30 Mississippi 0.3% 0.3% 0.7% 0.3% 0.4%Mississippi $59.3 $51.9 $137.7 $49.4 $298.2

6

In 2019, Food Beverage, and Tobacco Product Manufacturing and Electrical Equipment and Appliance Manufacturing were the largest exporting sectors

Exhibit I.3 | Idaho’s Exporting Sectors in 2019

CC

IIIdaho Exports to the UAE

Source: US Census Bureau USA Trade Online (excluding exports where state was not specified)

1.3M

0.6M

0.5M

0.4M

0.4M

0.3M

0.3M

0.2M

0.7M

4.7M

0 1 2 3 4 5 6 7 8 9 10

0

1

2

3

4

5

6

7

8

9

$0

$1

$1

$2

$2

$3

$3

$4

$4

$5

$5

Food,beverage, and

tobaccoproduct

manufacturing

Electricalequipment and

appliancemanufacturing

Miscellaneousmanufacturing

Othertransportation

equipmentmanufacturing

Computer andelectronicproduct

manufacturing

Machinerymanufacturing

Chemicalmanufacturing

Fabricatedmetal productmanufacturing

Others Total

Top 8 Sectors Accounted for approximately $04.0M or 86% of Total Exports from Idaho to the UAE

Top 4 Sectors Accounted for approximately $02.7M or 59% of Total Exports from Idaho to the UAE

7

From 2018 to 2019, Miscellaneous Manufacturing sector had the largest increase in exports. Fabricated Metal Product Manufacturingsector had the largest decrease

Exhibit I.4 | Idaho’s Exporting Sector Movements From 2018 to 2019

DD

IIIdaho Exports to the UAE

Source: US Census Bureau USA Trade Online (excluding exports where state was not specified)

$4.6M $4.7M

Starting:2018

Miscellaneousmanufacturing

Fabricated metalproduct

manufacturing

Chemicalmanufacturing

Machinerymanufacturing

Wood productmanufacturing

Crop and animalproduction

Othertransportation

equ ipmentmanufacturing

Nonmetallicminera l productmanufacturing

Other End ing:2019

Decreases in Exports

Increases in Exports

8

Idaho had an $9.4M trade deficit with the UAE in 2019

Exhibit I.5 | Idaho’s Trade Surplus with the UAE by Sector

EE

IIIdaho Exports to the UAE

Source: US Census Bureau USA Trade Online (excluding exports where state was not specified)

$4.7M

$14.1M

Trade Surplus in 2019:-$9.4M

Export to the UAE Import from the UAE

Chemicalmanufacturing

Food, beverage,and tobacco

productmanufacturing

Electricalequipment and

appliancemanufacturing

Textile andtextile product

mills

Miscellaneousmanufacturing

Othertransportation

equipmentmanufacturing

Computer andelectronicproduct

manufacturing

Machinerymanufacturing

Other

Exports $0.3M $1.3M $0.6M $0.0M $0.5M $0.4M $0.4M $0.3M $0.9M

Imports $13.33M $0.00M $0.00M $0.48M $0.00M $0.00M $0.02M $0.00M $0.28M

Balance -$13.0M $1.3M $0.6M -$0.5M $0.5M $0.4M $0.3M $0.3M $0.6M

Trade Balance

Idaho 2019 Employment

Driven by Export to the UAE

FF

9Source: US Census Bureau USA Trade Online & US DoC BEA Regional Input-Output Multipliers State Data

IIII

167,433Jobs Created

46 Jobs out of 167,433 Total Jobs Created in the U.S. by the UAE

Other transportation

equipment manufacturing

Computer and electronic product

manufacturing

Chemical manufacturing

Fabricated metal product

manufacturing

Machinery manufacturing

3 2 2 2 3

Electrical equipment and

appliance manufacturing

Food, beverage, and tobacco

product manufacturing

Miscellaneous manufacturing

Motor vehicle, body, trailer, and

parts manufacturing

Mining

5 15 6 1

Employment Driven by Idaho's

Exports of Manufactured Goods to the

UAE*

46

* The sectors shown are the top ten U.S. manufacturing sectors exporting to the UAE in 2019.

10

IVIVForeign Direct Investment

$26.7BFinancial Services Sector

2018 UAE total FDI in U.S.

Benefited from UAE’s investments in Idaho since 2004

AA BB

U.S. to UAE:

17.3B FDI in 2018

UAE to U.S.:

26.7B FDI in 2018

11

UAE made $26.7B total investment in U.S. in 2018. Investments over the past four years remained level.AA

Bilateral FDI between the U.S. and UAE

Exhibit IV.1 | Total UAE Investments by Year

IVIV

Source: US Department of Commerce, Bureau of Economic Analysis

$1,473

$2,746

$6,070

$11,602

$14,766

$12,020

$14,138

$16,699

$20,947

$24,262

$26,208

$24,978

$24,990

$26,011

$26,738

$2,962

$2,285

$2,670

$2,967

$3,337

$4,118

$4,935

$6,603

$8,481

$11,401

$17,466

$16,205

$13,568

$16,785

$17,303

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

UAE to U.S. U.S. to UAE

Great Recession

12

Since 2004 UAE expanded existing investments and made greenfield investments in Idaho in the financial services sectorBB

Exhibit IV.2 | Certain UAE Investors in Idaho by Sector Since 2004

UAE FDI in Idaho IVIV

Source: © fDi Markets, Financial Times Ltd 2019 based on public information

2013 Financial services

UAE Exchange Centre

APPENDICES

13

14Source: US Census Bureau USA Trade Online

Note: Due to space constraints, some data bars are fitted to the page and not to scale.

Appendix A IIIIII

Idaho's Top Exporting Commodities to the UAE in 2019This exhibit only displays commodities with annual export amounts exceeding $1M

Sector Top Commodity Export Value

Food, beverage, and tobacco product manufact3115 Dairy Products | 1.2M

15Source: US Census Bureau USA Trade Online & US DoC BEA Regional Input-Output Multipliers State Data

Appendix B IIIIII

11

5

3

2

2

1

1

2

1

1

3

Total: 15

Total: 06

Total: 05

Total: 03

Total: 03

Total: 02

Total: 02

Total: 02

Total: 02

Total: 01

Total: 04

0 2 4 6 8 10 12 14 16 18

Food, beverage, and tobacco productmanufacturing

Miscellaneous manufacturing

Electrical equipment and appliancemanufacturing

Other transportation equipment manufacturing

Machinery manufacturing

Computer and electronic product manufacturing

Chemical manufacturing

Fabricated metal product manufacturing

Crop and animal production

Motor vehicle, body, trailer, and partsmanufacturing

Others

Employment Driven by Top 10 UAE-Exporting Sectors in Idaho in 2019

Direct & Indirect Employment

Induced Employment