WEDC: Wisconsin exports top $23 billion in 2012

Contact: Tom Thieding, 608-210-6767 tom.thieding@wedc.org

Link to Release: http://inwisconsin.com/wisconsin-2012-exports

Industrial machinery and agricultural goods remain lead export categories

MADISON, Wis. February 22, 2013 – Wisconsin exports increased by 4.7 percent in 2012, to $23.1 billion, according to the Wisconsin Economic Development Corporation. Wisconsin ranks 18th among the 50 states in exports.

“The increase in exports of Wisconsin products is great news for Wisconsin’s economy,” said Reed Hall, CEO and secretary of WEDC. “Wisconsin’s innovative technologies and our expertise in the manufacturing and agricultural sectors lead customers worldwide to procure products made in Wisconsin.”

“With 96 percent of the world’s population outside the U.S. and one billion people expected to join the global middle class in the next decade, Wisconsin businesses are taking advantage of these opportunities around the world to grow their own business and grow our economy,” said Lora Klenke, vice president of WEDC’s international business development.

The top export markets for Wisconsin in 2012 were Canada, Mexico, China, Australia and Japan. Exports to Canada accounted for 32.9 percent of the state’s total exports, an increase of 6.6 percent over 2011 to $7.6 billion. Exports to Wisconsin’s second largest export market, Mexico, grew by 8.9 percent to $2.2 billion. Exports to China increased by 11.8 percent to $1.5 billion, exports to Australia increased by 13.5 percent to $865.5 million, and exports to Japan grew by 17.2 percent to $862.5 million.

“Canada continues to recover from their less dramatic recession following the U.S. debt crisis,’” Klenke said. “Exports to Mexico increased, despite the ongoing security issues in the northern and western parts of the country. Mexico’s new president, Enrique Peña Nieto, began his term with an aggressive economic growth plan.”

Wisconsin exports to Europe declined by 5.2 percent in 2011, to $4.1 billion, because of the debt crisis, economic slowdown and resulting contraction of GDP in the largest economies in the European Union.

Industrial machinery and agricultural exports were Wisconsin’s two largest export categories, with both sectors increasing in 2012.

Wisconsin’s industrial machinery exports, which accounted for 31.6 percent of all state exports, increased 6.3 percent over 2011. Exports for derricks and cranes increased, with 22 percent of those products going to Chile and 16.7 percent going to India. Exports for transmission shafts, bearings and gears also increased, with a 59.0 percent increase of those items going to Mexico and a 25.3 percent increase to China.

Wisconsin set a record for agricultural exports in 2012, sending over $2.9 billion worth of agricultural products to over 149 countries, a 3 percent increase over 2011. Agricultural products account for 12.5 percent of total state exports. Wisconsin now ranks 13th overall for agricultural exports, up from 16th compared to the same time period in 2011.

Electrical machinery exports, the state’s third largest export product category, declined by 6.7 percent. Exports for electrical transformers and telecommunications equipment declined, while exports of welding equipment increased.

About Wisconsin Economic Development Corporation

Wisconsin Economic Development Corporation (WEDC), formed in 2011 as a public-private entity, leads economic development efforts for the state and nurtures business growth and job creation by advancing Wisconsin’s business climate. In addition to Wisconsin’s strong legacy industries of agriculture and manufacturing, recent growth has occurred in water technology, renewable energy, bio-sciences, health care, and food processing. In 2012 Wisconsin was ranked No. 20 in Chief Executive Magazine’s “Best States for Business” and No. 17 as a top state for business by CNBC. WEDC partners with 650 economic development organizations throughout Wisconsin to serve businesses looking to start, grow or relocate. WEDC has four focus areas: business and industry development, economic and community development, entrepreneurship and innovation, and international business development. Visit http://www.inwisconsin.com or follow WEDC on Twitter @_InWisconsin to learn more.