Manufactured exports increased to $4.2 billion in Minnesota

Minnesota manufactured exports increased to $4.2 billion in the first quarter of 2008, which was 8.5 percent higher than the same period a year ago. The Minnesota Dept. of Employment and Economic Development (DEED) reported the cause was due to increased sales of transportation equipment, processed foods and computer and electronic goods.

“Minnesota manufacturers continue to show impressive gains in export sales,” said DEED Commissioner Dan McElroy. “Exports grew in seven of our top 10 markets and in nine of our top 10 manufacturing sectors during the quarter.” Canada, Minnesota’s largest trading partner, posted the biggest value gain in the quarter, increasing its purchases of state manufactured goods by $255 million, up 27.3 percent from a year ago, to $1.2 billion. Minnesota’s other top export customers during the quarter were China ($287 million), Japan ($211 million), Germany ($184 million) and the United Kingdom ($177 million).

Computers and electronics was the state’s largest export category in the quarter, accounting for about $1 billion in sales, an increase of 6.6 percent from a year ago. U.S. manufactured exports grew 14.3% in the first quarter, with the largest gains coming from the petroleum, chemicals and primary metals products industries.

Source: Plant Engineering