MN Posts Record-Setting Exports in 2022
ST. PAUL (WJON News) - Minnesota’s exports set a record last year.
The Minnesota Department of Employment and Economic Development released a report showing exports of agricultural, mining, and manufactured products reached a record $27 billion in 2022.
Interim DEED Commissioner Kevin McKinnon says the 21% growth from 2021 export numbers shows the strength of Minnesota businesses.
Minnesota’s record export sales and continued export growth are great news. These trends show that our manufacturers are well-positioned in international markets and contribute strongly to resilience in our state economy. We will continue to engage in multi-faceted efforts to bring Minnesota companies and goods to the global stage.
The state grew sales on many continents:
- Exports to North American markets grew to almost $12 billion, a jump of 30% from 2021.
- European Union markets grew by 26%.
- The Caribbean, Central America, and South America grew by 22%.
- Exports to the Middle East grew by 30%
Among individual products, sales of oil grew by $1.8 billion to a total of $3.6 billion. Most of the sales went to Canada. Electrical equipment made up $681 billion with strong growth in Canada, Germany, and Singapore. Cereal grain exports grew by $618 million, with wheat sales to emerging markets in Yemen and Indonesia.
In total, Minnesota did $70 billion in exports to 215 countries last year. With imports of nearly $43 billion, the state boasts a trade deficit of about $15 billion in 2022.
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