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Wisconsin Exports On Pace to Set Record

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Wisconsin is on pace to set a record for state exports this year, with businesses exporting $17.4 billion worth of products through three quarters, the Wisconsin Economic Development Corp. said Wednesday.

Wisconsin exported 6.4 percent more in the first three quarters of 2012 than in 2011, beating the 5 percent growth rate 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, WEDC vice president of international development. “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 versus the same period last year. WEDC attributed the increase to higher exports for parts for earth-moving and mining equipment, transmission and gear parts, and self-propelled earth-moving equipment.

Vehicle exports were up 20 percent through nine months, driven by exports of fire-fighting vehicles, mobile drilling derricks and tractors and parts and accessories for tractors.

Agricultural product exports were up 4 percent to $2.2 billion. Wisconsin ranks 12th in the nation for the value of agricultural exports, up from 17th during the same period in 2011.

Posted by Owen at 1938 hrs
Economy

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