Minnesota’s product exports reach record high $27 billion in 2022
MINNEAPOLIS (FOX 9) - For a second consecutive year, Minnesota's product exports increased, and this time to a new record high.
According to an announcement by the Minnesota Department of Employment and Economic Development (DEED), Minnesota exports of agricultural, mining and manufactured products reached $27 billion in 2022, a 16% increase over 2021.
"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 in a statement. "We will continue to engage in multi-faceted efforts to bring Minnesota companies and goods to the global stage."
According to the release, Minnesota exports to North America increased 30% over 2021, to nearly $12 billion in 2022.
Of the products, worldwide sales of fuel/oil (a $1.8 billion increase), electrical equipment ($681 million increase) and cereals ($618 million increase) contributed the most to Minnesota’s export totals.
In total, Minnesota conducted $70 billion worth of traded goods with 215 countries in 2022, an increase of 25% since 2021.
Minnesota ranked 21st among 50 states for total exports, up from 22nd in 2021.
Meanwhile, overall U.S. exports grew by 18% from 2021 to 2022.