Minnesota exports grew to $5.7 billion in the third quarter of 2018
11/29/2018 7:52:25 AM
Shane Delaney, 651-259-7236
ST. PAUL – Sales of Minnesota agricultural, mining and manufactured exports grew 6.5 percent to $5.7 billion in the third quarter of 2018, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED).
Minnesota represents the 19th largest gain in exports nationwide for this period. U.S. exports as a whole were up 8.1 percent during the same period.
“Many of the state’s core industries continue to experience strong export growth,” said DEED Commissioner Shawntera Hardy. “Minnesota businesses are also succeeding at making inroads into newer emerging markets.”
Demand in Asia and Europe drove export growth in regional markets. Exports to Asia grew 13 percent to $2.1 billion, and exports to Europe grew 9 percent to $1.2 billion.
Canada was the largest export market ($1.2 billion, up 5 percent). Other top 10 markets were China ($671 million, up 9 percent), Mexico ($610 million, down 7 percent), Japan ($406 million, up 8 percent), Germany ($282 million, up 14 percent), Korea ($262 million, up 28 percent), Singapore ($152 million, up 2 percent), Belgium ($148 million, down 2 percent), the Philippines ($148 million, up 18 percent) and the United Kingdom ($139 million, up 1 percent).
Sales of optic/medical goods were the largest at $1.1 billion and grew 10 percent. Other top 10 products were machinery ($896 million, up 9 percent), electrical equipment ($769 million, up 10 percent), plastics ($392 million, up 7 percent), vehicles ($372 million, up 1 percent), ores/slag/ash ($205 million, up 42 percent), food by-products ($167 million, up 33 percent), pharmaceuticals ($136 million, up 31 percent), aircraft/spacecraft ($105 million, down 19 percent), and stone/plaster/cement ($94 million, up 5 percent).
The third quarter 2018 export report can be seen at the DEED export and trade statistics website.
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.