Posted at 12:52 PM on March 9, 2012
by Marty Moylan
Filed under: Jobs & unemployment
Minnesota companies exported $5.1 billion worth of manufactured, agricultural and mining products in the fourth quarter last year.
That was a fourth-quarter record and 1.4 percent higher than the same period in 2010, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED).
Manufacturing dominated Minnesota exports during the quarter, accounting for $4.7 billion worth of sales. It was the eighth straight quarter of year-over-year increases in that sector.
No doubt exports helped Minnesota's manufacturing sector regain nearly 6,000 jobs from the final three months of 2010 to the same period last year.
"Strong markets in Asia and North America are driving the growth of Minnesota exports," Mark Phillips, commissioner of the Department of Employment and Economic Development, said in a press release. "The Minnesota Trade Office is seeing plenty of opportunities right now for companies that want to export to those and other regions of the world."
Canada was the state's largest export market, buying nearly $1.5 billion worth of products during the quarter. Other major export customers included China, Mexico, Japan, South Korea, Germany, the Philippines, Belgium, Singapore and the United Kingdom. All of them imported more than $100 million worth of goods from Minnesota.
Machinery led all export categories, accounting for nearly $1 billion in sales during the quarter. But that was about a 5 percent drop from the same period in 2010. Other top export products included optical and medical products, electrical machinery, vehicles, plastic and meat.
Meat exports rose 84 percent, driven by China's demand for fresh or frozen pork in China.
The full fourth-quarter report is available at www.tinyurl.com/MinnesotaExports.