The Opus College of Business Global Business Education initiative has emphasized the importance of understanding and addressing the direct impacts of globalization on the Twin Cities and Minnesota communities. The Minnesota Department of Employment and Economic Development (DEED) produces a number of reports each year that assess different aspects of ‘global impacts.’ One such report has just been released. It focuses on global exports, and includes some interesting information.
Minnesota companies exported $20.7 billion worth of manufactured, mining and agricultural products in 2013. The export totals were slightly below the record $20.8 billion in exports that Minnesota businesses sent to foreign markets in 2012. Exports of manufactured products, however, reached a record $19.3 billion last year, accounting for 93 percent of the state’s total exports.
Minnesota was 20th among states for export sales in 2013, matching its position in the previous year.
The largest national market was Canada at $5.8 billion, down 8 percent from the previous year. The state’s other top 10 markets were China ($2.5 billion, down 1 percent), Mexico ($1.5 billion, up 14 percent), Japan ($1.1 billion, down 10 percent), Germany ($760 million, up 4 percent), Belgium ($721 million, up 12 percent), South Korea ($624 million, down 12 percent), the Philippines ($552 million, up 11 percent), the United Kingdom ($528 million, up 3 percent) and the Netherlands ($521 million, up 17 percent).
Machinery was the state’s top export product in 2013, with sales reaching $4 billion, down 1 percent.
Other top 10 exports were optics, medical instruments ($3.3 billion, up 7 percent), electrical machinery ($2.5 billion, up 2 percent), vehicles ($2 billion, up 2 percent), plastic ($1 billion, down 3 percent), food byproducts ($613 million, up 19 percent), aircraft, spacecraft ($606 million, up 32 percent), beverages ($350 million, up 71 percent), meat ($324 million, down 3 percent) and iron, steel products ($322 million, up 3 percent).