Sales jump 8 percent from previous year
3/13/2018 10:16:03 AM
Shane Delaney, 651-259-7236
ST. PAUL – Minnesota businesses exported $21 billion worth of agricultural, mining and manufactured products in 2017, an 8 percent jump from the previous year, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED). U.S. exports increased 7 percent during the same period.
Asian markets top the state’s export list, surpassing $7 billion in sales (up 10 percent). This growth was fueled by Japan (up 30 percent) and China (up 10 percent). Korea, Pakistan, Taiwan, Vietnam and India also had impressive gains in sales of $15 million or more.
Exports to North America were up 5 percent to $6.7 billion. Ores/slag/ash and machinery exports drove growth in Canada. Cereals and vehicle parts grew strongly to Mexico.
“Exports continue to be a vital part of our state’s economy, supporting nearly 118,000 jobs in Minnesota,” said DEED Commissioner Shawntera Hardy. “After suffering export losses in 2016, Minnesota companies have bounced back by exporting 1,053 different products to 203 different countries in 2017.”
Canada was the state’s largest national export market in 2017, accounting for $4.3 billion in sales (up 5 percent).
Other top markets were Mexico ($2.4 billion, up 4 percent), China ($2.4 billion, up 10 percent), Japan ($1.3 billion, up 30 percent), Germany ($887 million, up 16 percent), South Korea ($849 million, up 3 percent), Belgium ($661 million, down 10 percent), United Kingdom ($589 million, up 4 percent), Singapore ($562 million, down 2 percent), and Netherlands ($502 million, up 36 percent).
Optic/medical instruments was the top Minnesota export product in 2017, with sales of $3.8 billion (up 8 percent).
Other top 10 exports were machinery ($3.3 billion, up 5 percent), electrical machinery ($2.8 billion, up 11 percent), vehicles ($1.4 billion, down 8 percent), plastic ($1.4 billion, up 15 percent), aircraft, spacecraft ($604 million, up 19 percent), food byproducts ($531 million, down 8 percent), pharmaceuticals ($429 million, up 26 percent), meat ($372 million, up 12 percent) and ores, slag, ash ($344 million, up 175 percent).
The big gain in ores, slag, and ash (up 175 percent) was driven by major growth in Canada ($203 million, up 212 percent), and Japan ($131 million, up 595 percent).
The full 2017 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.