30-04-2025
Oregon's ‘trade surplus' persists as tariffs begin to impact small businesses
PORTLAND, Ore. () — While researchers have highlighted the 'urban doom loop' hitting the City of Portland's economy, a new report highlights a more positive look at Oregon's trade industry.
The Portland Metro Chamber's latest data show there were around $42 billion worth of goods and services exported from the state in 2022. This makes Oregon one of 11 states with a 'trade surplus' — meaning that it exports more than it imports to other locations.
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According to the report, approximately 88% of those exporters owned small or medium-sized businesses. The report also shows that 270,735 jobs — about one in eight — are connected to international trade. And exported goods and services made up about 10.3% of the state's Gross Domestic Product last year.
Researchers noted that semiconductors have continued to be Oregon's top export, while Mexico has become the state's leading destination for exports. The value of exports into the country rose from $464 million in 2018 to $6.26 billion in 2024.
But officials say recent and looming federal tariffs 'are raising red flags.'
President Donald Trump's administration has already implemented a 145% tariff on imports from China. Tariffs on most global imports stand at 10%.
'We continue hearing from countless Oregonians whose businesses and livelihoods depend on access to global markets — from distillers in Hood River who import bottles from Asia to fill with their products, to small companies in Portland and farmers statewide who face retaliatory tariffs on the Oregon-grown goods they export,' Port of Portland Executive Director Curtis Robinhold said in a statement. 'Their stories underscore just how much international trade affects everyday Oregonians, their livelihoods and our state's economy, and why we must do everything possible to support it.'
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Portland Metro Chamber's revealed that many local businesses, specifically in the metro area, have already been struggling.
The 2025 State of the Economy noted that Portland's post-pandemic recovery has been slower than most major cities, leading to an 'urban doom loop' that causes small companies to shut down and tax revenues to decline.
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