Sales down 4 percent from previous year
3/16/2017 9:18:27 AM
Shane Delaney, 651-259-7236
ST. PAUL – Minnesota businesses exported $19 billion worth of agricultural, mining and manufactured products in 2016, a 4 percent drop from the previous year, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED). U.S. exports fell 3 percent in 2016.
Asia and North America were the state’s top two regional markets, with each accounting for about $6.4 billion in sales last year. Annual sales to Asia were unchanged from the previous year, while North American sales were down 7 percent.
Exports to Europe fell 5 percent to $4.4 billion. Africa, meanwhile, saw strong growth, with sales up 30 percent to $185 million.
“Even with a slight decline in exports overall, Minnesota still has a thriving and diverse export sector, with state businesses sending 1,044 different products to 207 countries last year,” said DEED Commissioner Shawntera Hardy. “Exports are a vital part of our economy, supporting nearly 120,000 jobs in Minnesota.”
Canada was the state’s largest national export market in 2016, accounting for $4 billion in sales (down 9 percent).
Other top markets were Mexico ($2.3 billion, down 2 percent), China ($2.2 billion, unchanged), Japan ($1 billion, down 9 percent), South Korea ($822 million, up 7 percent), Germany ($765 million, down 8 percent), Belgium ($733 million, down 11 percent), Singapore ($573 million, up 12 percent), United Kingdom ($567 million, up 6 percent) and Taiwan ($459 million, up 9 percent).
Optic/medical instruments was the top Minnesota export product in 2016, with sales of $3.5 billion (down 5 percent).
Other top 10 exports were machinery ($3.1 billion, down 10 percent), electrical machinery ($2.5 billion, down 1 percent), vehicles ($1.5 billion, down 16 percent), plastic ($1.1 billion, unchanged), food byproducts ($575 million, down 9 percent), aircraft, spacecraft ($507 million, up 9 percent), pharmaceuticals ($340 million, up 2 percent), meat ($330 million, up 5 percent) and cereals ($312 million, up 60 percent).
The big gain in cereals (up 60 percent) was driven by major growth in China ($32 million, up 2,253 percent), Italy ($27 million, up 1,106 percent) and Costa Rica ($22 million, up from less than $6,200).
The full 2016 annual export report can be seen at DEED export and trade statistics.
DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services, visit the DEED website or follow DEED on Twitter.
Upon request, this information can be made available in alternate formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161.