Minnesota Exports at $5.3 Billion in First Quarter
Friday, June 22, 2018
State companies set record for export sales in a first quarter
ST. PAUL – Sales of Minnesota agricultural, mining and manufactured exports soared 9 percent to a first quarter record of $5.3 billion, according to figures released by the Minnesota Department of Employment and Economic Development (DEED).
The agency said Minnesota businesses exported 930 different products to 187 countries during the quarter. U.S. exports were up 8 percent during the period, with 45 states reporting increased export sales.
“Minnesota companies achieved sales that were $450 million higher in the first quarter than in the same period a year earlier,” said DEED Commissioner Shawntera Hardy. “Demand for Minnesota-made products is growing in virtually every region of the world.”
Asia was the state’s top export region, with sales climbing 21 percent to $2 billion. Minnesota exports grew 1 percent to $1.6 billion in North America and 9 percent to $1.2 billion in Europe. Exports sales also climbed in Central and South America (up 2 percent), the Middle East (up 2 percent) and Africa (up 34 percent). The Australia-Pacific area (down 18 percent) was the only major region where sales fell.