Last updated on March 17th, 2020 at 01:31 pm
November was the second best month of the year for Wisconsin exports in comparison to the state’s 2018 performance, but the value of exports was still down slightly year-over-year.
The state exported $1.82 billion in goods during the month, a drop of $1.6 million or 0.09%. The best month of the year, compared to 2018, was March, when exports decreased 0.07%, according to data from the U.S. Census Bureau.
For the year, Wisconsin exports are down 4.15% as companies contend with trade uncertainty and slower economic conditions in Europe and Asia. The state’s decline is the 21st largest in the country.
The decline puts Wisconsin on pace for $21.78 billion in exports in 2019, a $942.5 million decline from 2018 and the lowest since 2016. Through the first eight month of 2019, Wisconsin was on pace for a nearly $1.2 billion decline in exports.
November’s performance was boosted by an $83.2 million increase, or 24.2%, in exports to Europe. Specifically, the state benefited from a $67 million increase in shipments of aircraft parts and engines to the United Kingdom, a $19.3 million increase in exports of wheat and meslin to Italy, and a $17 million increase in sales of self-propelled bulldozers and graders to Sweden.
Exports to other top destinations for Wisconsin products did not do as well in November. Exports to Canada, the state’s largest trading partner, decreased 2.9% or $15 million for the month, sales to Mexico were down $63.6 million or 20.9% and sales to China decreased $16.1 million or 12.5%.
Imports, meanwhile, are down 7.5% or $2.12 billion for the year to $26.28 billion, the eighth largest decline in the country. In November specifically, imports decreased 16% or $424.2 million.
Imports from China are down 20.5% or $1.53 billion to $5.93 billion for the first 11 months of 2019, including a 33.7% decline in November.
Shipments from Europe were down 2.4% through November, a $204.3 million decrease to $8.26 billion.