Home Industries Wisconsin 36th in export growth with positive December

Wisconsin 36th in export growth with positive December

Exports down 6.4 percent in 2016

Wisconsin companies increased exports by almost 2 percent in December after trending in the opposite direction for much of the year, according to U.S. Census data.

Shipping

The state exported almost $1.77 billion worth of goods during the month, a roughly $33 million increase over the same period in 2015. For the year, exports were still down by 6.4 percent, to roughly $21 billion.

The decline put Wisconsin 36th in the country for export growth. Idaho, Nevada, Oregon, North Dakota and Rhode Island led the way with just 14 states posting gains in exports. Indiana increased exports by 3 percent, while Michigan was up 2.4 percent. Other Midwestern states posting declines included Ohio, down 3.1 percent, Minnesota, off 3.9, Illinois, down 5.7 and Iowa, down 7.5.

For the year, U.S. exports were down 3.3 percent, to $1.45 trillion.

Still, Wisconsin’s positive finish was an improvement over the first 10 months of the year. BizTimes previously reported the state’s exports were down 7.2 percent through October. At the time, Wisconsin Economic Development Corp. officials attributed the decline to a strong dollar and weak oil prices.

In addition to December’s positive showing, the state’s export picture improved in November, with a 4.8 percent decline helping to move the overall year in the right direction.

Imports into Wisconsin were down 4.9 percent through the first 10 months of the year, but they jumped sharply in November and December, with increases of 12.6 percent and 12.4 percent respectively. For the year, Wisconsin ended with $22.5 billion in imports, a 2.2 percent decline from 2015.

Arthur covers banking and finance and the economy at BizTimes while also leading special projects as an associate editor. He also spent five years covering manufacturing at BizTimes. He previously was managing editor at The Waukesha Freeman. He is a graduate of Carroll University and did graduate coursework at Marquette. A native of southeastern Wisconsin, he is also a nationally certified gymnastics judge and enjoys golf on the weekends.
Wisconsin companies increased exports by almost 2 percent in December after trending in the opposite direction for much of the year, according to U.S. Census data. The state exported almost $1.77 billion worth of goods during the month, a roughly $33 million increase over the same period in 2015. For the year, exports were still down by 6.4 percent, to roughly $21 billion. The decline put Wisconsin 36th in the country for export growth. Idaho, Nevada, Oregon, North Dakota and Rhode Island led the way with just 14 states posting gains in exports. Indiana increased exports by 3 percent, while Michigan was up 2.4 percent. Other Midwestern states posting declines included Ohio, down 3.1 percent, Minnesota, off 3.9, Illinois, down 5.7 and Iowa, down 7.5. For the year, U.S. exports were down 3.3 percent, to $1.45 trillion. Still, Wisconsin’s positive finish was an improvement over the first 10 months of the year. BizTimes previously reported the state’s exports were down 7.2 percent through October. At the time, Wisconsin Economic Development Corp. officials attributed the decline to a strong dollar and weak oil prices. In addition to December’s positive showing, the state’s export picture improved in November, with a 4.8 percent decline helping to move the overall year in the right direction. Imports into Wisconsin were down 4.9 percent through the first 10 months of the year, but they jumped sharply in November and December, with increases of 12.6 percent and 12.4 percent respectively. For the year, Wisconsin ended with $22.5 billion in imports, a 2.2 percent decline from 2015.

Stay up-to-date with our free email newsletter

Keep up with the issues, companies and people that matter most to business in the Milwaukee metro area.

By subscribing you agree to our privacy policy.

No, thank you.
Exit mobile version