Another Drop in Minnesota Exports
St. Paul, MN (KROC-AM News) -Minnesota's economy continues to feel the impact of declining exports.
The Minnesota Department of Employment and Economic Development says shipments of manufactured, agricultural and mining products from Minnesota to other countries totaled $4.9 billion during the third quarter of this year. That's down about two-percent when compared to the same three month period last year. Overall US exports also declined about two-percent from July through September.
Exports to Canada, Minnesota's largest customer, were down 13-percent at just over $1 billion. State officials say exports to Minnesota's second largest customer, Mexico, declined 3-percent, while shipments to China were up 10-percent. Exports to South Korea, another major customer in Asia, rose 33-percent.
Optics and medical products was the largest category of exported goods with sales totaling $902 million. That was up about one-percent from the third quarter of last year. Machinery shipments were down 12-percent at $760 million. Electrical machinery was the third largest product category of exports and the report shows shipments were unchanged from a year ago at $616 million.