Minnesota's Exports Fell in Second Quarter
Posted at: 08/30/2013 12:07 PM
MINNEAPOLIS (AP) - Minnesota's exports decreased nearly 6 percent in the second quarter as falling sales in Canada and China prompted the first such decline since the recession.
The Star Tribune reports exports to Europe rose 12 percent driven by growing sales in Germany, the Netherlands and Switzerland. But it wasn't enough to offset the effects of a slowing Chinese economy and lower shipments of ore and fuel to Canada.
According to figures released Thursday by the Minnesota Department of Employment and Economic Development, exports to Canada fell $182 million, or 15 percent, and they fell $155 million to China, or 21 percent. The two countries account for 40 percent of Minnesota exports.
State companies posted international sales of $5.2 billion, a 5.7 percent drop from the same period a year ago.
Information from: Star Tribune
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