Contact: Madeline Koch, 651-259-7236
ST. PAUL – Minnesota exports of manufactured, agricultural and mining products set a third-quarter record of $5.2 billion, climbing 0.8 percent from the same period a year earlier, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED).
Manufactured exports accounted for $4.9 billion of the state’s total exports in the quarter, up 4.5 percent from a year ago. U.S. export sales of manufactured products increased 3.3 percent during the period.
North America remains the state’s largest export region, with sales of $1.9 billion (down 3 percent) in the third quarter. Export sales to the state’s second-largest market, Asia, climbed 1 percent to $1.6 billion.
Some of the strongest growth occurred in traditionally smaller export markets for Minnesota companies, with year-over-year sales up 15 percent to $267 million in Central and South America, 34 percent to $118 million in the Middle East and 23 percent to $57 million in Africa.
“Minnesota’s manufactured exports continue to post strong results, at a faster growth rate than the rest of the country,” said DEED Commissioner Katie Clark Sieben. “Minnesota’s companies are competing in the global economy, and through our four trade offices in China, Brazil, Korea and Germany, the state stands ready to assist small and mid-sized companies looking to sell their high-quality products in new markets.”
Canada is the state’s largest national export market, accounting for $1.45 billion in sales during the quarter (down 8 percent). Other major markets by country were China ($594 million, down 6 percent), Mexico ($407 million, up 24 percent), Japan ($269 million, down 3 percent), Belgium ($172 million, up 36 percent), Germany ($171 million, down 8 percent), South Korea ($159 million, up 14 percent), the Philippines ($159 million, up 35 percent), Singapore ($130 million, up 12 percent) and the United Kingdom ($123 million, up 1 percent).
Among countries not on the top 10 list, Brazil ($93 million, up 25 percent), Venezuela ($22 million, up 189 percent) and Saudi Arabia ($50 million, up 155 percent) were strong performers.
The state’s leading export product was machinery, with sales of $969 million, up 2 percent from a year earlier. Other major product categories were optics and medical instruments ($807 million, down 1 percent), electrical machinery ($639 million, up 7 percent), vehicles, not railway ($563 million, up 3 percent), plastic ($250 million, no change), food waste ($161 million, up 18 percent), aircraft, spacecraft ($114 million, up 1 percent), beverages ($99 million, up 81 percent), iron and steel products ($85 million, up 14 percent), and meat ($79 million, up 13 percent).
Among other products, sales of wood pulp jumped 311 percent to $71 million, led by sales to Taiwan ($27 million) and Indonesia ($23 million). Dairy product sales climbed 66 percent to $58 million, including large gains to Ukraine ($7 million) and Saudi Arabia ($4 million).
Two volatile export categories that saw major drops in sales were mineral fuel/oil (down 74 percent to $38 million) and ores/slag/ash (down 73 percent to $54 million). Minnesota’s overall export growth would have been 6.2 percent, compared with a U.S. growth rate of 1.3 percent, if these two categories hadn’t been included in the third quarter totals.
The full third-quarter report can be seen here.
DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and our services, visit us at http://mn.gov/deed/ . Follow us on Twitter at twitter.com/mndeed .
Upon request, this information can be mde available in alternate formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161.