Mining and manufacturing played a vital role in Minnesota’s highest third quarter state exports since 2014, according to a Minnesota Department of Employment and Economic Development (DEED) report released today.
The report shows Minnesota businesses exported $5.4 billion worth of mining, manufactured, and agricultural products in the third quarter of 2017. This represents an 11 percent increase from the previous year, climbing in nearly every major global region.
Iron Mining Association of MN (IMA) President Kelsey Johnson notes many of the top products exported in the last quarter are reliant on the state’s iron mining industry.
Among top exports were optical/medical products, machinery, electrical machinery, vehicles, aircraft and spacecraft – together accounting for more than $3 billion in exports. These products all contain steel, made from iron.
In addition ores, slag, and ash exports alone – largely iron ore – grew 769 percent in the third quarter up to $88 million from $1 million, according to the report.
“Minnesota’s iron mines truly have a regional, state, national, and international impact,” Johnson said.
Posted: Nov 27th, 2017