11/22/2022 1:54:22 PM
Governor Tim Walz and Lt. Governor Peggy Flanagan
[ST. PAUL, MN] – Governor Tim Walz today announced that exports of agricultural, manufactured, and mining goods from Minnesota surged to an all-time high of $7.3 billion in the third quarter of 2022. Minnesota exports jumped $1.6 billion between the third quarters of 2021 and 2022.
"Our workers, manufacturers, and farmers continue to produce high-demand goods and drive Minnesota's economy forward on the global stage," said Governor Walz. "Minnesota's record-setting exports reflect what we already know: Minnesota is filled with world-class growers, problem-solvers, and innovators who are rising to meet global demand. We will continue to invest directly in communities and businesses across the state to build on this historic economic growth."
"Minnesota's record-setting economic expansion beats on with this new milestone for exports – a strong signal that our state's economy is on the national radar," said DEED Commissioner Steve Grove. "Minnesota workers produce a wide range of high-quality goods that are in demand around the world, while Minnesota-grown grains and soybeans help meet food supply chain needs in global commodity markets."
Exports of many of the state's top products grew strongly – with mineral fuel, oil (up 188 percent), electrical equipment (up 32 percent), cereals (up 315 percent) and vehicles (up 44 percent) fueling much of the growth.
"We are thrilled to see Minnesota businesses resuming their global expansion and outreach efforts," said Gabrielle Gerbaud, Executive Director of the Minnesota Trade Office. "Minnesota is again hosting booths at selected major international trade shows. Just last week, we were at the Medica trade show in Düsseldorf, Germany. We invite Minnesota companies to contact us to learn more about Medica, as well as other export development opportunities."
The Minnesota Trade Office supports small- and medium-sized Minnesota businesses through technical assistance, export education and training programs, trade promotion activities, services by offices in strategic overseas locations, and export expansion grants. State STEP grants (50 percent matching up to $7,500) support a range of export development activities, including participation in virtual and in-person trade shows and missions. The MTO also serves as Minnesota's Office of Protocol, ensuring that the state's interactions with foreign delegations and dignitaries are conducted with appropriate diplomatic etiquette and cultural practices.
The full third quarter 2022 report is available on DEED's website in the Export and Trade Statistics section.