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Home > BizTimes Daily > Archives > February 21, 2008
Wisconsin's international exports are soaring
Published February 21, 2008 - BizTimes Daily
Wisconsin's exports increased by 11.8 percent to a record $19.2 billion in 2007, and Wisconsin now ranks as the 19th-largest exporting state in the nation, an improvement from its 21st ranking in 2006.
Exports to Canada, Wisconsin's largest international market, grew by 7.3 percent to $5.8 billion. Mexico continued as Wisconsin's second-largest export market, as exports grew 2 percent to $1.9 billion. China took third place with a 35.4 percent increase to $1.2 billion, topping $1 billion for the first time ever. The United Kingdom took fourth place with a 6 percent increase to $722.8 million. Germany ranked fifth with a 13.4 percent increase to $660.8 billion.
Industrial machinery, including computer equipment, continues to be Wisconsin's top manufacturing export commodity, growing by 11.8 percent to $6.2 billion. Electrical machinery ranked second with a 5.7 percent increase to $2.7 billion. Medical and scientific instruments ranked third with a 0.1 percent decrease to $2.1 billion. Agricultural exports ranked fourth with a 45.1 percent increase to just under $2.1 billion. Transportation equipment ranked fifth with a18.4 percent increase to $1.7 billion.
The state's agricultural exports have nearly doubled in the past three years, up from $1.1 billion in 2004 - nearly a 100 percent increase. Dairy exports skyrocketed 131 percent, up from $84.7 million in 2006 to $195.8 million in 2007, driven by demand for cheese, whey, and butter.
A relatively new export, dried distillers grains, jumped 245 percent, up from $6 million in 2006 to $19.2 million in 2007, driven by strong demand in Asia. A byproduct of the state's burgeoning ethanol industry, dried distillers grains (DDGs) are sought as a high-protein livestock feed.
"This has largely been driven by strong demand in Asia," said Joshua Morby, executive director of the Wisconsin Bio Industry Alliance (WBIA). "Distillers grains are sought as a high protein livestock feed. The ethanol industry has certainly taken its fair share of hits in the past few weeks. It's finally nice to receive some recognition for the role our industry plays in growing not only the Wisconsin economy, but the globally economy as well."
"I salute Wisconsin companies for aggressively seeking new markets around the globe," said Gov. Jim Doyle. "As governor, I'm committed to doing all I can to support a climate that encourages success for our exporters."
Each year, the governor recognizes Wisconsin firms and organizations that have achieved extraordinary results in international markets or have contributed to Wisconsin's ability to compete globally. This year's nomination deadline is April 11. The 2008 awards will be presented May 13 at the 44th annual Wisconsin International Trade Conference in Milwaukee. For more information, visit http://commerce.wi.gov/IE/IE-ExportAwards.html.
