State exports set first quarter recordMinnesota exports of manufactured, agricultural and mining products grew 13 percent in the first quarter from the same period a year ago.
By: Staff Report, Alexandria Echo Press
ST. PAUL - Minnesota exports of manufactured, agricultural and mining products grew 13 percent in the first quarter from the same period a year ago. According to figures released today by the Minnesota Department of Employment and Economic Development (DEED), the state exported a record $4.8 billion in the quarter.
Manufactured products were the dominant export category, accounting for $4.4 billion of total sales in the quarter, up 12 percent from the same period a year ago.
"Minnesota exports continue to be strong, generating more business for companies and contributing to job growth statewide," said DEED Commissioner Mark Phillips. "Exports to nine of the state's top 10 markets expanded from a year ago, and sales for most of our products and commodities grew as well."
"Our first quarter results are encouraging," said Katie Clark, executive director of the Minnesota Trade Office. "However, many small and mid-sized companies have potential to export and are not currently doing so. With 95 percent of consumers living outside of the United States, Minnesota must focus on selling its products to the global marketplace. The Minnesota Trade Office will continue to provide guidance to Minnesota companies to increase exports and increase jobs here in Minnesota."
Canada remains Minnesota's largest customer, accounting for $1.3 billion in exports (27 percent of the state's total) in the quarter, up 16 percent from a year ago.
Other top markets were China ($558 million, up 35 percent), Japan ($332 million, up 20 percent), Mexico ($250 million, up 4 percent), Germany ($198 million, up 12 percent), South Korea ($163 million, up 5 percent), Belgium ($146 million, up 3 percent), Singapore ($140 million, up 17 percent), United Kingdom ($137 million, down 7 percent) and Taiwan ($135 million, up 14 percent).
Asia was the strongest-performing global region, buying 35 percent of Minnesota's exports during the quarter, followed by North America, which accounted for 31 percent of the state's export total. Another 21 percent of the state's exports went to countries in the European Union.
Machinery led all export categories with $949 million in sales, up 8 percent from the same period a year ago.
The state's other top exports were optic, medical instruments ($713 million, down 3 percent), electrical machinery ($670 million, up 27 percent), vehicles, not railway ($390 million, up 16 percent), plastic ($280 million, up 5 percent), food waste, animal feed ($123 million, up 27 percent), aircraft, spacecraft ($114 million, up 8 percent), meat ($92 million, up 111 percent), pharmaceutical products ($88 million, up 48 percent), miscellaneous grains, seeds, fruit ($80 million, down 23 percent), beverages ($79 million, up 101 percent) and cereals ($78 million, down 8 percent).
Machinery, which accounted for 20 percent of state exports, saw major growth in centrifuges and filters (up 16 percent to $125 million), liquid pumps (up 76 percent to $59 million), and self-propelled bulldozers and scrapers (up 136 percent to $21 million).
Japan was a major buyer of the state's agricultural exports, purchasing 62 percent of cereals (mainly corn) and 45 percent of miscellaneous grains/seeds/fruit (mainly corn).
The Minnesota Trade Office is the unit within DEED that offers programs and consulting services to help Minnesota companies compete globally. In order to provide a more comprehensive view of the state's exports, this quarterly report has been expanded to include both manufactured and non-manufactured exports. Previously only manufactured exports were included in the quarterly report, but both manufactured and non-manufactured exports were included in the annual report.
The full report is available at www.tinyurl.com/MinnesotaExports.