Wisconsin companies exported almost $1.77 billion in goods in August, a 2.4% decline from the same time in 2019, according to new data from the U.S. Census Bureau.
While still a drop, the decline in August was an improvement from July when exports were down 3.1%. It is also a significant improvement from April, May and June, when the state averaged a 22% year-over-year decline.
The state’s exports are now down 9.2% from the same period in 2019 and 14% from 2018 levels. Wisconsin companies exported $13.17 billion in goods during the first eight months of the year. The state’s exports had previously topped $14 billion by August every year since 2010.
Exports with some of Wisconsin’s largest trading partners have suffered this year amid coronavirus shutdowns and limited international travel.
Sales to Canada are down 12.8% to $4.01 billion, a decrease of nearly $600 million that includes a 3% decline in August.
Exports to Europe are down 9.8% to $2.68 billion with a 19.1% decrease in August. Likewise, exports to Mexico have decreased 29.8% to $1.6 billion with a 22.9% decrease in August.
One of the bright spots has been an increase in exports to China, up 14.9% for the year to $947 million, including a 9.6% increase in August.
Of course, at this time last year exports to China were down 25% amid rising trade tensions and tariffs between the U.S. and China. Compared to the first eight months of 2017, exports are down more than $169 million.
The relative rebound in exports to China this year has come from a $55 million increase in aircraft parts, a $37 million increase in engines, a $35 million increase photo, medical and surgical instruments, and a nearly $24 million increase in electrical machinery.
