State Exports at $4.8 Billion in Second Quarter
Thursday, September 22, 2016
Minnesota companies exported $4.8 billion worth of manufactured, agricultural and mining products in the second quarter of 2016, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED).
DEED said second quarter exports were down 8 percent from the same period a year ago, with the strength of the dollar continuing to impact the competitiveness of U.S. products and foreign demand. U.S. exports were down 6 percent in the quarter.
“The strong dollar hampered export sales in the second quarter, making Minnesota-made products more expensive abroad,” said DEED Commissioner Shawntera Hardy. “Still, there were pockets of growth, particularly in Africa, where Minnesota sales climbed 32 percent to $43 million.”
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