MN exports climb to $5 billion in sales
Minnesota exports of manufactured, agricultural and mining products reached $5 billion in the first quarter, a 2 percent increase from the same quarter a year ago, according to figures released today by the Minnesota Department of Employment and Economic Development.
Minnesota exports grew by more than 20 percent in five of the state’s top 10 national markets, while eight of the state’s top 10 product categories saw sales increases.
Minnesota manufactured exports were up 4.4 percent from a year ago, compared with a 1 percent growth rate nationally.
“Minnesota exporters saw strong gains in our traditional markets during the first quarter,” said DEED Commissioner Katie Clark Sieben.
“But they also made headway into newer markets for Minnesota products, with exports growing 11 percent in the Middle East and 16 percent in the Australia-Pacific region.”
Canada was the state’s top national market with sales of $1.2 billion (down 12 percent). Other top markets were China ($523 million, down 2 percent), Mexico ($433 million, up 49 percent), Japan ($319 million, up 23 percent), Belgium ($250 million, up 41 percent), Germany ($215 million, up 24 percent), Korea ($163 million, down 4 percent), Australia ($139 million, up 24 percent), United Kingdom ($136 million, down 4 percent) and the Philippines ($132 million, down 5 percent).
The 49 percent increase to Mexico was driven by increased sales of machinery, vehicles and electrical equipment.
Canadian exports fell because of decreased sales of mineral fuels/oils, machinery, beverages, ores/slag/ash and vehicles.
Machinery led all product categories with sales of $932 million, down 7 percent.
Other top exports were optical, medical instruments, electrical machinery, vehicles, plastics, food byproducts, aircraft, spacecraft, iron and steel.