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Wisconsin's Export Trade Soars above National Average
12 Nov 07
A brief analysis of the state's export market
Wisconsin exports grew 15.1% y/y in 2006; 2.4% above the U.S average. In the last 10 years, exports from Wisconsin have increased by almost 70%, from $10.12 billion in 1997 to $17.16 billion in 2006, and now constitute about 1.7% of the U.S total exports. Exports to NAFTA partners, Canada and Mexico, were exceptionally strong, and China has also emerged as one of Wisconsin 's largest trading partners. China now ranks third on the state export list, ahead of Japan, who as an export market has been significantly affected by its decade-long economic stagnation. Looking to the future, there appears to be significant potential for major growth in India, and exports to Middle East are also growing rapidly, despite ongoing economic and political uncertainties in the region. Wisconsin's Top Export Destinations | Rank (2006) | Country | 1997 | 2006 | 10-Year Growth | Share (2006) | 1 | Canada | $3,530,993,320 | $5,446,924,974 | 54.3% | 31.7% | 2 | Mexico | $454,310,769 | $1,854,465,106 | 308.2% | 10.8% | 3 | China | $119,780,899 | $870,286,596 | 626.6% | 5.1% | 4 | Japan | $722,026,912 | $738,808,759 | 2.3% | 4.3% | 5 | United Kingdom | $602,117,720 | $686,452,305 | 14.0% | 4.0% | 6 | Germany | $433,237,130 | $582,727,348 | 34.5% | 3.4% | 7 | Saudi Arabia | $194,981,475 | $505,112,169 | 159.1% | 2.9% | 8 | France | $399,650,730 | $467,838,148 | 17.1% | 2.7% | 9 | Australia | $262,194,087 | $466,616,947 | 78.0% | 2.7% | 10 | Belgium | $204,011,668 | $383,760,223 | 88.1% | 2.2% | 11 | Korean Republic | $197,967,755 | $342,519,290 | 73.0% | 2.0% | 12 | Netherlands | $250,171,149 | $339,797,394 | 35.8% | 2.0% | 13 | Italy | $172,898,629 | $292,924,485 | 69.4% | 1.7% | 14 | Hong Kong | $204,607,716 | $288,255,399 | 40.9% | 1.7% | 15 | Taiwan | $132,304,212 | $259,507,533 | 96.1% | 1.5% | 16 | Brazil | $183,690,975 | $248,449,995 | 35.3% | 1.4% | 17 | Singapore | $143,873,311 | $231,684,211 | 61.0% | 1.3% | 18 | India | $50,283,267 | $168,581,690 | 235.3% | 1.0% | 19 | Sweden | $86,560,761 | $144,909,660 | 67.4% | 0.8% | 20 | Venezuela | $45,548,897 | $132,946,593 | 191.9% | 0.8% | | All Countries | $10,124,853,797 | $17,169,113,077 | 69.6% | |
Industrial machinery continues to be Wisconsin's top export commodity, growing 7.5% (y/y) in 2006 and constituting more than 32% of the total state exports. Medical instruments ranked second, with an increase of 3.2% to $2.1 billion in 2006. Electrical machinery continued in third place with a 42.1% increase to $1.83 billion. Exports-related manufacturing jobs constitute an estimated 6.5% (186,000 jobs) of Wisconsin's total non-agriculture private-sector employment. Top-20 Exported Product Categories | Rank (2006) | Commodity | 1997 | 2006 | 10-Year Growth | Share (2006) | 1 | Industrial Machinery | $3,314,169,572 | $5,520,286,008 | 66.6% | 32.2% | 2 | Electrical Machinery | $833,504,901 | $2,597,357,289 | 211.6% | 15.1% | 3 | Optic,Nt 8544;Med Instr | $1,047,664,906 | $2,063,928,970 | 97.0% | 12.0% | 4 | Vehicles, Not Railway | $1,378,121,818 | $1,467,583,125 | 6.5% | 8.5% | 5 | Paper,Paperboard | $452,836,100 | $799,986,391 | 76.7% | 4.7% | 6 | Plastic | $292,630,444 | $569,464,510 | 94.6% | 3.3% | 7 | Cereals | $249,367,678 | $258,685,687 | 3.7% | 1.5% | 8 | Book+Newspapr;Manuscrpt | $122,346,313 | $253,952,375 | 107.6% | 1.5% | 9 | Iron/Steel Products | $163,828,649 | $241,854,314 | 47.6% | 1.4% | 10 | Furniture And Bedding | $77,721,573 | $216,664,732 | 178.8% | 1.3% | 11 | Aircraft,Spacecraft | $89,062,543 | $161,400,341 | 81.2% | 0.9% | 12 | Misc. Chemical Products | $96,334,269 | $142,857,814 | 48.3% | 0.8% | 13 | Wood | $87,194,048 | $132,238,132 | 51.7% | 0.8% | 14 | Misc Art Of Base Metal | $53,465,436 | $122,810,464 | 129.7% | 0.7% | 15 | Baking Related | $40,871,113 | $118,771,474 | 190.6% | 0.7% | 16 | Tanning,Dye,Paint,Putty | $43,294,312 | $101,676,000 | 134.8% | 0.6% | 17 | Hides And Skins | $102,813,621 | $99,362,885 | -3.4% | 0.6% | 18 | Misc Grain,Seed,Fruit | $173,047,197 | $98,482,348 | -43.1% | 0.6% | 19 | Soap,Wax,Et;Dental Prep | $52,142,406 | $95,544,627 | 83.2% | 0.6% | 20 | Miscellaneous Food | $44,902,623 | $93,488,907 | 108.2% | 0.5% | | All Commodities | $10,124,853,797 | $17,169,113,077 | 69.6% | |
Wisconsin is also a major producer and exporter of agricultural products. According to a November 2007 USDA published report, the state's cash farm receipts totaled $6.5 billion in 2006, with agricultural exports estimated at $1.5 billion. World demand for these products is increasing, but so is the competition. Agricultural exports currently support about 17,800 jobs in the state. These jobs include food processing, storage, and transportation sectors. Wisconsin's top agricultural exports in 2006 were feed grains and products, dairy products, soybeans and products, vegetables, and hides and skins. By Naveen Joshi
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