International Trade Tensions Impact Minnesota Exports
St. Paul, MN (KROC-AM News) - State officials are blaming a drop in Minnesota exports on countermeasures on U.S. exports by major trading partners.
The latest data from the Minnesota Department of Employment and Economic Development show overall exports of agriculture, mining, and manufactured goods from the state totaled $5.7 billion in the second quarter. That’s down 4-percent from the same three-month period a year ago. The report shows exports from the entire U.S. were dropped 3-percent.
State officials reported Minnesota exports to Asia fell 4-percent, while shipments to our North American trading partners were off 6-percent and sales to Central and South America declined 19-percent. On the other side of the ledger, exports to Japan rose 6-percent, sales to Germany grew 8-percent and shipments to Australia shot up 18-percent.
Canada remains Minnesota’s largest customer and purchased $1.2 billion in Minnesota goods in the second quarter, followed by China at $696 million, and Mexico with $597 million in purchases from Minnesota producers.
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