WEDC is poised to help companies grow their exports further
Wisconsin’s exports grew by 6 percent in 2017 compared to the prior year, reaching a total of $22.3 billion in goods and services exported to 202 countries around the world.
The state’s top trading partners are Canada, Mexico and China, and all three of these destinations saw significant increases of Wisconsin exports in 2017. Exports to Canada grew by 4.3 percent, to $6.9 billion, driven by increases in the export of miscellaneous mineral products and electrical machinery. Exports to Mexico were up 4.8 percent to a record $3.2 billion, mostly because of an increase in the export of electrical machinery and oil seeds (primarily soybeans). Exports to China jumped by 21.6 percent, to $1.7 billion, in 2017 – also a record for exports to that country. Driving the growth in exports to China were increases in the shipments of aircraft and parts; industrial machinery; dairy products; wood and wood products; and raw hides and skins.
Wisconsin’s exports to Saudi Arabia also grew – in this case, surging 71 percent to $796 million – due almost entirely to an increase in military vehicle exports. This increase moves Saudi Arabia into the position of Wisconsin’s fourth-highest export destination.
Industrial machinery continues to be Wisconsin’s top export product category, accounting for 24 percent of all exports, or $5.4 billion in 2017. Electrical machinery tied with medical and scientific instruments for second place; both categories came in at $2.2 billion, each representing 10 percent of the state’s total exports.
Read the full article here.