Minnesota exports of agricultural, mining, and manufactured products reached a record $5.1 billion in the third quarter for 2012, up by one percent compared to the same period a year ago.
According to figures from the
Minnesota Department of Employment and Economic Development (DEED), this marks the eighth straight quarter of record exports in the state. Only three months ago, Minnesota reached an all-time high for a single quarter, when sales peaked at $5.4 billion.
Of the three major export categories, manufacturing has the highest sales, and is up by two percent compared to a year ago.
Ed Dieter, acting director of the Minnesota Trade Office, says that China and Europe had the biggest export gains recently, with China being especially strong. Dieter notes that sales there are up 16 percent over 2011. Other export areas that showed increases include Taiwan, Canada, Chile, and Australia.
In some other markets, sales were down when compared to last year's numbers, particularly for the United Kingdom, South Korea, and Argentina.
Given the state's strong biotech and medical device industries, it's not surprising that medical exports should see a big jump. The category increased by 19 percent during the third quarter, led by sales to China, Japan, and Belgium. The full report is available
here on the DEED site.
Source: Ed Dieter, Minnesota Trade Office
Writer: Elizabeth Millard