MADISON, November 28, 2012 – Wisconsin is on pace to set a record for state exports at year-end, according to the Wisconsin Economic Development Corporation (WEDC). Through the first three quarters of the year, Wisconsin businesses exported $17.4 billion worth of products.
Wisconsin exports during the first three quarters of 2012 grew faster than total U.S. exports. Wisconsin exported 6.4 percent more in the first three quarters of 2012 than in 2011, compared to 5 percent growth for the United States during the same time period.
“If exports continue to grow at this pace in the final quarter of the year, they would total $23.5 billion and break last year’s record of $22 billion,” said Lora Klenke, vice president of International Development with WEDC. “The value of Wisconsin’s exports through the first three quarters of 2012 is greater than what was exported in all of 2009.”
Industrial machinery exports, accounting for 32 percent of total Wisconsin exports, increased 11 percent through the third quarter, compared to the same time a year ago. The increase was due to higher exports for parts for earthmoving and mining equipment; transmission and gear parts; and self-propelled earthmoving equipment.
Vehicle exports were 20 percent more through nine months, compared to 2011. Exports of fire fighting vehicles and mobile drilling derricks were especially strong, as were tractors and parts and accessories for tractors.
Wisconsin exported more than $2.2 billion of agricultural products during the first three quarters of 2012, an increase of four-percent over the same period in 2011. Wisconsin ranks 12th in the nation for the value of agricultural exports, up from 17th during the same period in 2011.
The top three markets for all Wisconsin exports from January through September 2012 were Canada, Mexico and China. Australia moved ahead of Japan in export markets for Wisconsin projects in the third quarter. Wisconsin exports products to 205 countries.
Click here to read a more detailed summary of 2012 Q3 Wisconsin Exports.
Top Five Wisconsin Product Exports
|
Product |
Export $Value |
Share of Growth |
Percent of Total Exports |
|
Industrial Machinery |
$5.6 billion |
11% |
32.3% |
|
Agriculture Products |
$2.2 billion |
4% |
12.6% |
|
Electrical Machinery |
$1.7 billion |
-5% |
10% |
|
Medical Equipment |
$1.7 billion |
6.3% |
9.8% |
|
Transportation Equip |
$1.2 billion |
20% |
6.9% |
Top Five Wisconsin Export Markets
|
Country |
$Value |
Export Growth |
|
Canada |
$5.8 billion |
9.4% |
|
Mexico |
$1.6 billion |
6.7% |
|
China |
$1.1 billion |
10% |
|
Australia |
$665 million |
29.4% |
|
Japan |
$637 million |
19.1% |
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 inwisconsin.com or follow WEDC on Twitter @_InWisconsin to learn more.
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