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Minnesota used to brag about the state's manufactured exports.

The following comes from the Minnesota Department of Employment and Economic Development's 2004 annual 

Manufactured exports are things that are made, not grown, and exclude services such as travel.

And although they reached a record $18.4 billion last year, the growth rate of Minnesota exports has lagged the national average in five of the past six years.  And in 2009, they beat the US average only by plunging a little less.

I've asked the folks at DEED if they have any theories on why the switch.  I'll update once I get a reply.

So, how bad is this lagging trend? The answer changes a lot depending on how far back you look.

If Minnesota's export growth had matched the U.S. rate since 

 the state's factories actually would be selling less stuff overseas than they are now--$1.4 billion less. That would mean fewer export related jobs.

On the other hand, if Minnesota's export growth had matched the U.S. rate since 

, when Minnesota's pattern of outperforming the U.S. changed, the state's factories would have sold $3.5 billion more stuff abroad.

Bottom line?  Nothin' more than the obvious: better to outperform the US average than to trail it.

Business and Economic News

MinnEcon Blog

Bill Catlin

Author

Minnesota used to brag that the state's exports grew more than the U.S. average. No more.

Minnesota’s exports continue to lag U.S. average

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