Minnesota companies exported $4.6 billion in first quarter 2016
ST. PAUL – Minnesota companies exported $4.6 billion worth of manufactured, agricultural and mining products in the first quarter of 2016, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED).
The agency said first quarter exports were down 5.2 percent from the same quarter a year ago. U.S. exports fell 6.8 percent in the first quarter, with 40 states reporting declines or no growth.
“While exports were down from a year ago in seven of the state’s top 10 national markets, Minnesota performed better than the country as whole in the first quarter,” said DEED Commissioner Shawntera Hardy.
Exports to all three of the state’s major regional markets were down for the quarter, falling 5 percent in North America, 6 percent in Asia and 2 percent in the European Union. Countries in Central and South America posted some of the strongest gains, led by Guatemala (up 460 percent), Peru (up 61 percent), Costa Rica (up 21 percent) and Colombia (up 23 percent).
READ MORE about this story at Minnesota Employment and Economic Development by Monte Hanson.