Twin Cities 10th-Largest Export Market in 2011
The Twin Cities metro area exported $26.2 billion worth of merchandise in 2011—making it the 10th largest export market in the nation and one of only 11 to hit or exceed the $25 billion threshold.
According to data released by the U.S. Department of Commerce’s International Trade Administration (ITA), the Minneapolis-St. Paul metro area’s exports increased by $3 billion, or 12.9 percent, between 2010 and 2011.
Unlike the Minnesota Department of Employment and Economic Development (DEED), whose quarterly export reports are statewide and include only Minnesota-made products, ITA’s report is specifically for the Twin Cities metro area and includes goods that are manufactured elsewhere but shipped out of the Minneapolis-St. Paul International Airport.
Products exported out of the Twin Cities included crop production merchandise ($7.6 billion), computer and electronic products ($3.2 billion), machinery ($2.9 billion), miscellaneous manufactured commodities ($1.6 billion), and food and related products ($1.5 billion), according to ITA. The top export market was Canada, with $5.7 million worth of goods exported to the country from the Twin Cities. It was followed by China ($4.2 billion), Mexico ($2.9 billion), South Korea ($1.4 billion), and Japan ($1.2 billion).
Meanwhile, statewide exports of Minnesota-made agricultural, mining, and manufactured products totaled a record $20.3 billion last year, up 7.3 percent from 2010, according to DEED.
“Exports are an increasingly important part of the Minneapolis-St. Paul economy as local businesses, both big and small, continue to look beyond our borders to increase their customer base,” Francisco SÃ¡nchez, the Department of Commerce’s under secretary for international trade, said in a statement. “The new data confirms the region’s focus on increasing exports is already bearing fruit.”
In addition to the Twin Cities, these 10 metro areas exported at least $25 billion in merchandise last year, according to the ITA report: New York; Houston; Los Angeles; Detroit; Miami; Seattle; Chicago; San Jose, California; Dallas; and Philadelphia.
ITA aims to help businesses in the country to identify export opportunities for their products and to support President Obama’s National Export Initiative, which aims to double U.S. exports by the end of 2014 as compared to 2009.