Mexico trade helps boost Minnesota 1Q exports
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Minnesota exported $5 billion worth of manufactured goods, mining, and farm products in the first three months of the year, a 2 percent increase over the same period in 2013, state trade officials said Thursday.
Canada remains the top foreign destination for Minnesota's products. A quarter of the state's exports go north of the border.
Mexico accounts for a much smaller share, but the value of exports to that country grew 49 percent, Minnesota Trade Office Executive Director Kathleen Motzenbecker said.
"It's an increase of the sales of machinery, vehicles, electrical equipment," she said. "I think it demonstrates improved economic conditions on the ground in Mexico. Mexican citizens have increased buying power."
Overall Minnesota machinery exports fell slightly, but exports of products including medical devices, meat and plastics all rose last quarter.
Exports of manufactured goods were up 4.4 percent from a year ago, a much stronger pace than the 1 percent growth rate nationally.
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