Minnesota exports up 16% in 2022, DEED says

Minnesota’s exports reached record-high levels last year, according to a report released Wednesday by the Minnesota Department of Employment and Economic Development (DEED).

DEED says, in 2022, the state had $27 billion in exports, a 16% increase over 2021 and the second consecutive year the state’s exports increased following the pandemic.

“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,” interim DEED Commissioner Kevin McKinnon said. “We will continue to engage in multi-faceted efforts to bring Minnesota companies and goods to the global stage.”

The department says North American markets drove the state’s export growth last year, with those exports jumping by more than 30% compared to 2021. Exports also increased to the European Union, the Caribbean, Central America, South America and the Middle East but fell by 2% to Asia.

DEED notes Minnesota imported nearly $43 billion in goods last year, up 31% from 2021, meaning the state ran a trade deficit of about $15 billion last year.

Overall, Minnesota ranked 21 among states in exports last year, up one spot from the year prior.

“The Minnesota Trade Office is committed to helping small and medium-sized Minnesota companies navigate international markets,” said Gabrielle Gerbaud, the executive director of the Minnesota Trade Office. “We invite all Minnesota companies looking to launch or grow export sales to utilize all the resources our office provides.”

More information on last year’s exports can be found online.