MN exports dip slightly; manufactured goods set record

Minnesota exports last year totaled $20.7 billion. That’s down slightly from the record of $20.8 billion set the year before.

“Exports are a vital part of the state’s economy, with more than 8,600 businesses in Minnesota exporting goods and services,” said DEED Commissioner Katie Clark Sieben. “With new trade offices opening in South Korea, Brazil and Germany, the state is positioned to continue building export sales around the world and attracting more foreign direct investment.”

The state Department of Employment and Economic Development says more than 8600 businesses in Minnesota are involved in the export business. Canada was once again the largest importer of Minnesota-made goods and services last year with a total of close to $6 billion.

North America was the state’s largest global export region, accounting for $7.2 billion in sales in 2013, followed by Asia at $6.5 billion and the European Union at $4.3 billion.

The largest national market was Canada at $5.8 billion, down 8 percent from the previous year.

The state’s other top 10 markets were China ($2.5 billion, down 1 percent), Mexico ($1.5 billion, up 14 percent), Japan ($1.1 billion, down 10 percent), Germany ($760 million, up 4 percent), Belgium ($721 million, up 12 percent), South Korea ($624 million, down 12 percent), the Philippines ($552 million, up 11 percent), the United Kingdom ($528 million, up 3 percent) and the Netherlands ($521 million, up 17 percent).

Mexico is among the state’s fastest-growing major markets, with exports up 14 percent last year, led by big gains in machinery, electrical machinery and food byproducts. Minnesota exports to Mexico have grown 71 percent since the country broke into the state’s top five markets in 2008.

Machinery was the state’s top export product in 2013, with sales reaching $4 billion, down 1 percent.

The full 2013 annual report can be seen here.