Last updated on October 7th, 2019 at 01:40 pm
Exports from Wisconsin declined 6.5% in August, bringing the total year-to-date decline in international shipments to 5.2%, according to new data from the U.S. Census Bureau.
On the current pace, the state’s exports would be down by $1.19 billion for the full year.
Wisconsin’s decline in exports is the 15th largest in the country. Across the Midwest, 10 of 12 states have seen exports decline this year. North Dakota, Missouri, Iowa, Illinois and South Dakota have seen larger drops than Wisconsin.
Nationally, exports have declined by 0.7% through August.
The drop in Wisconsin exports is being driven by declines to major geographies. Sales to China, in particular, are down 25.3% for the year or $277.9 million. Exports to Canada have seen a similar size drop in dollar figures, down $250 million, which equates to a 5.2% decline. Sales to Europe are also down $132.4 million or 4.3% while exports to Mexico are relatively flat, down 0.2% or $3.4 million.
Those four geographies account for nearly three-quarters of Wisconsin exports and combined are down by 5.9%.
Imports into Wisconsin have also declined, dropping 6.5% in the first eight months of the year. Imports from China specifically have decreased 16.3% for the year, including double-digit declines every month since March.
Exports are growing from some countries, including 13 that have seen increases of more than $10 million so far this year.
Belgium has seen the largest increase, up $34.7 million or 12.9%. Australia is up $33.5 million or 9% followed by Chile, up $26.3 million or 20%, and the Czech Republic is up $20.4 million or 24%.