NEW DTED REPORT CHRONICLES MINNESOTA EXPORT TRENDS
NEW DTED REPORT CHRONICLES MINNESOTA EXPORT TRENDS ST. PAUL, Minn., Nov. 20 /PRNewswire/ -- Minnesota manufactured
exports grew faster than exports nationwide between 1980 and 1987, but between 1987 and 1990, the state's share of U.S. exports declined, according to a report released by the Minnesota Department of Trade and Economic Development (DTED).
Economic analysts within DTED used export data from the U.S. Department of Commerce to chronicle the state's export trends over the last 10 years. Among the findings contained in the report, "An Analysis of Minnesota's Manufactured Exports: 1980-90": -- Between 1987 and 1990, Minnesota manufactured exports grew by 52 percent while the U.S. total grew by 60 percent or 15 percent slower than the national average. Two of Minnesota's top five manufactured export industries experienced below average growth between 1987 and 1990, resulting in the state's export rank to drop one point from 16th to 17th. -- Industrial machinery, including computers, was Minnesota's largest manufactured export in 1990, comprising a 39 percent share of the state's total exports. This compares to a 50 percent share in 1987. This loss in share is due to a slow growth rate of 20 percent in industrial machinery exports between 1987 and 1990. This compares to the national export growth rate for the industrial machinery industry of 52 percent. -- While industrial machinery exports showed sluggish growth, all other high tech exports were growing faster than average. Scientific instruments and transportation exports, two of the state's top five manufacturing export industries, more than doubled their exports between 1987 and 1990. -- In 1987, which is the latest available data at this level, Minnesota was the second largest exporter of office and computer machinery in the nation, following California. The office and computer machinery industry represents a disproportionate share of Minnesota's manufactured exports, accounting for 55 percent of Minnesota's export value of shipments in 1987. According to George Crolick, executive director of the Minnesota Trade Office, the state plans to diversify its export base by focusing on opportunities in new country markets, specifically in markets with growth opportunities. "The Minnesota Trade Office has taken an active role this year to position specific business segments, such as medical devices, and environmental protection and abatement, as leaders in international markets," said Crolick. "We are also expanding our efforts in promotion value-added agricultural exports and reaching out to small- and medium- sized exporters." NOTE: If you would like a full copy of the report, "An Analysis of Minnesota's Manufactured Exports: 1980-1990," contact the Business Development and Analysis Division at 612-297-2335. -0- 11/20/91 /CONTACT: Kevin Olsen of DTED, 612-296-8284/ CO: DTED ST: Minnesota IN: SU: AL -- MN001 -- 5262 11/20/91 09:03 EST
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|Date:||Nov 20, 1991|
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