Mar. 19 - State Exports at $3.9 Billion in Fourth Quarter

ST. PAUL –Minnesota manufacturers exported $3.9 billion in products in the fourth quarter of 2009, according to export numbers released today by the Minnesota Department of Employment and Economic Development (DEED). State exports fell by 6.3 percent from the same quarter in 2008, while U.S. exports fell 2.2 percent during that period. 

For 2009, Minnesota manufactured exports decreased 15.5 percent to $14.6 billion while U.S. exports fell 18.3 percent.

"Minnesota manufacturers have been staring straight in the face of an economic slowdown that has disrupted business globally," said DEED Commissioner Dan McElroy. "However, our export markets, particularly in Asia, are showing signs of recovery, and exports have increased in four of our state's ten largest markets."

Minnesota exports increased to the following four top 10 trading markets: China ($363 million, up 19 percent), Japan ($226 million, up 6 percent), Korea ($129 million, up 20 percent), and Australia ($112 million, up 31 percent).  

Among all regions, exports to Asia experienced the strongest performance, growing 11 percent to $1.2 billion. Other Asian markets with strong export performances were Malaysia, Thailand and Taiwan. These gains helped blunt a 51 percent decline in the Philippines to $99 million and a 22 percent decline in the European Union to $957 million. 

Minnesota's largest manufactured export is computers and electronics, in spite of weaker demand for computer components, integrated circuits and printed circuits. Computers and electronics declined 17 percent from a year ago to $901 million. However, strong gains in transportation equipment export ($527 million, up 27 percent) helped offset some of these losses. 

Following up on emerging export opportunities in Asia, the Minnesota Trade Office (MTO) will lead a business development mission to Vietnam this May to assist Minnesota businesses in exploring trade opportunities, acquiring business contacts and partners, increasing exports, and developing relationships with key trade organizations. Vietnam was also a growth market for Minnesota in the fourth quarter; exports were up 158 percent to almost $13 million. 

"U.S. export sales to Vietnam grew more than 11 percent last year, and are now more than $3.1 billion," said MTO Acting Executive Director Ed Dieter. "This is generated in part by the Vietnamese government's efforts to improve infrastructure and develop the country's manufacturing sector."  

A full report of Minnesota's manufactured exports in the fourth quarter can be found at http://tinyurl.com/yl3737y .

DEED is the state's principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and our services, visit us at www.PositivelyMinnesota.com. Follow us on Twitter at www.twitter.com/PositivelyMN.

Upon request, the information in this news release is available in an alternative format such as Braille, large print, audiotape or computer disk.

Minnesota Department of Employment and Economic Development
Communications Office
Phone 651/259-7161 or 1-800-657-3858 ∙ TTY 1-800-657-3973
www.PositivelyMinnesota.com