April 29, 2025
State of Trade: On April 28, the Portland Metro Chamber released its 2025 State of Oregon Trade report, which describes the state’s heavy reliance on international trade and its related vulnerability to tariffs and other policies that disrupt the flow of goods and the function of complex supply chains. The report was prepared by ECOnorthwest. You can read it here.
Oregon exports: Oregon is one of only 11 states with trade surpluses in goods. In 2024, the value of state exports exceeded the value of imports by nearly $6 billion. The state’s chief exports by value include computer and electronic products, machinery, transportation equipment and agricultural products. In 2024, the largest destinations for Oregon exports were, in descending order, Mexico, China, Malaysia and Canada.
Broad impact: Trade plays a very large role in the state’s economy. Notable statistics from the report and associated slide deck presented during OBI’s April 28 Oregon Trade Summit:
- Goods exports accounted for more than 10% of state GDP, the nation’s sixth-highest share.
- 270,700 Oregon jobs – one in eight – are supported by trade
- 88% of Oregon businesses engaged in trade employ fewer than 500 people
- In 2023, the average wage across Oregon’s top trade-related industries was about 12% higher than the statewide annual average pay in all industries.
Why it matters: Because the Oregon economy is deeply rooted in global trade, the report concludes, it is “deeply exposed to changing conditions” such as those created by escalating tariffs. These include not only tariffs imposed by the United States on imported goods but also retaliatory tariffs imposed by other countries on things they buy … like Oregon exports.
State policy: Policymakers in Oregon have no control over federal trade policy, but they can change conditions within the state – for better or for worse. Increasing taxes and regulatory burdens on businesses already contending with the effects of tariffs would discourage further investment in Oregon, limiting job opportunities and, ultimately, state and local tax revenue.
Learn more: Check out the 2025 State of Oregon Trade report here and watch a recording of OBI’s virtual Oregon Trade Summit here. OBI’s Oregon Competitiveness Agenda, which contains dozens of proposals to improve Oregon’s business climate, can be found here.