State Exports Up 7.4 Percent in Second Quarter
Wednesday, October 04, 2017
Exports climb in most global regions, reaching $5.1 billion
ST. PAUL – Minnesota companies exported $5.1 billion worth of manufactured, mining and agricultural products in the second quarter of 2017, a 7.4 percent increase from the same period a year earlier, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED). U.S. exports were up 5.9 percent in the quarter.
Minnesota exports to Asia climbed 13 percent in the quarter to $1.7 billion. Export sales also increased in North America ($1.7 billion, up 0.5 percent) and the European Union ($1.1 billion, up 9 percent).
Other global regions contributing to the growth were Central and South America (up 17 percent), Australia-Pacific (up 17 percent) and Africa (up 6 percent). Exports fell in the Middle East (down 5 percent) and European markets outside the European Union (down 3 percent).
“Minnesota exports through the first six months of the year are up a healthy 6.4 percent, helping to drive job growth and the overall economy,” said DEED Commissioner Shawntera Hardy. “With global economic activity picking up, the state is well-positioned to continue growing exports for the foreseeable future.”
Canada was the state’s largest national export market in the quarter, with sales of nearly $1.1 billion (up 2 percent).
Other top 10 markets were Mexico ($586 million, down 3 percent), China ($566 million, up 12 percent), Japan ($309 million, up 29 percent), South Korea ($208 million, up 2 percent), Germany ($190 million, down 12 percent), the Netherlands ($189 million, up 105 percent), Belgium ($167 million, down 15 percent), the United Kingdom ($163 million, up 16 percent) and Singapore ($142 million, up 9 percent).
Optic and medical goods was the state’s top export category at $923 million (up 7 percent).