Minnesota Exports Dropped 7% in 2015
St. Paul, MN (KROC AM News) - A strong U.S. dollar and other factors resulted in a 7-percent drop in Minnesota exports in 2015.
The State Department of Employment and Economic Development says the total value of the manufactured, agricultural and mining products shipped to other countries dropped from a record high $21.4 billion in 2014 to approximately $20 billion last year.
Exports to Minnesota’s largest international customer, Canada, fell 21-percent last year to $4.4 billion, while sales to Mexico grew 6-percent to $2.4 billion and China exports slid 1-percent to $2.2 billion.
In the fourth quarter of last year, Minnesota exports declined 9-percent when compared to the final three months of 2014. The state’s export total for October through December was around $5 billion.