Governor Walz announces Minnesota’s first quarter exports outpace national growth
MANKATO, Minn. (KEYC) - Governor Tim Walz and the Minnesota Department of Employment and Economic Development (DEED) announced today that exports of manufactured, agricultural, and mining goods from Minnesota were valued at $6.6 billion in the first quarter of 2023, outpacing national growth. This is Minnesota’s eighth consecutive quarter of export growth.
“Minnesota’s economy is making a global impact,” said Governor Walz. “We will continue strengthening the trade partnerships that support our economy, create Minnesota jobs, and allow local communities to thrive. Minnesota’s workers and businesses should be proud of the results we’ve seen month after month.”
At 9 percent annually, Minnesota’s exports grew faster than those of the United States as a whole, which saw 7 percent annual growth.
“This quarter of growth shows how resilient and unceasing Minnesota’s economy is,” said DEED Temporary Commissioner Kevin McKinnon. “A $6.6 billion first quarter is an incredible start to the year and shows the extraordinary hard work and innovation Minnesota businesses provide for the global market.”
Minnesota’s largest exports markets remain Canada ($2.1 billion) and Mexico ($866 million). Minnesota showed widespread export growth across regions, driven by a 34 percent increase to Africa, a 28 percent increase to the Caribbean, Central and South America and a 15 percent increase to the European Union.
The full first quarter report is available on DEED’s website in the Export and Trade Statistics section.
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