Minnesota exports up; higher than national rate

Minnesota saw big gains in exports for the second quarter of 2024.

According to a press release from Governor Walz’s Office, the state had a 17% increase from the same period in 2023 and exports were up 9% from the first six months of 2024 over 2023.

The 17% increase compared to the second quarter of 2023 was significantly better than the national rate of 5% for the same quarter.

U.S. exports were up 2% for the first six months of the year over 2023, another marker in which Minnesota was up over the national rate with an overall 9% increase.

The state says that they saw the biggest export gains to markets in the Middle East, up 72%; Canada, up 40%; Mexico, up 44%; and Australia, up 18%.

Governor Walz went on the state’s first-ever trade mission to Australia in November of 2023. The nation has become Minnesota’s 10th largest export market.

Among the state’s top exported products were medical devices, machinery and electrical equipment.

Minnesota’s exports had an incredible second quarter, reflecting the hard work and innovative talent of Minnesota workers and businesses,” said Minnesota Department of Employment and Economic Development Commissioner Matt Varilek. “We’re excited to see notable growth in newer markets and look forward to supporting Minnesota businesses as they expand and help our economy grow.”

You can take a look at export data from the state HERE.