Wisconsin's exports

Wisconsin's Exports
A Special Report on Wisconsin's Economy
AT A GLANCE
Wisconsin's goods exports increased 18.3% to $19.8 billion in 2010.
ƒ Exports are expected to increase again in 2011.
ƒ Canada remains the main importer of Wisconsin goods, followed by Mexico, China, Germany, and Japan.
ƒ Main export goods are machinery, computers and electronics, transportation equipment, processed foods, and
 The International Trade Administration of the U.S. Trends in International Trade
Department of Commerce reports Wisconsin's goods exports returned to growth in 2010, increasing 18.3% International trade fell sharply in 2009 in the wake of to $19.8 billion. However, Wisconsin's exports have the massive financial crisis that gripped the world in not fully recovered from the downturn suffered in late 2008. World trade volumes, as measured by the 2009. Exports in 2010 are 3.8% below the $20.6 billion World Bank, fell 12.7% in 2009. Trade volumes of export peak of 2008. Nationally, goods exports developing countries fell farther, down 13.9%, while increased 21.0% in 2010 to $1.28 trillion, $10 billion 2010 has seen a rebound in world trade volume, up More than two-thirds (68.7%) of Wisconsin's exports 17.2% through the first ten months of the year. This is go to the top ten destinations. Canada remains the largest importer of Wisconsin goods, accepting 30.5% of total exports, equaling $6.0 billion worth of goods. World Trade Volumes
Mexico is the second largest destination, importing 10.2% of the total ($2.0 billion), followed by China ($1.3 billion), Germany ($745.3 million), and Japan Wisconsin's exports made up 1.5% of the nation's total exports. It ranked 19th out of 53 U.S. states and territories, slipping one spot from last year. Texas and California combined exported more than one-fourth of Trade volumes of developing countries fell further in The economy shrank in 2009, and exports fell even 2009, but they also increased faster in 2010, rising more. As a result, goods exports as a percent of total 23.6% through the first ten months. In contrast, trade economic activity fell in both the U.S. and Wisconsin. volume increased 14.6% for high-income nations In 2008, exports were 9.0% of the U.S. economy and 8.5% of the state economy. In 2009, exports declined to 7.5% of the nation's economy and 7.0% of Inventory rebuilding and consumer spending, spurred Wisconsin's. The nation's exports rebounded to 8.7% by government stimulus, supported much of the of GDP in 2010. While state GDP data will not be economic recovery in late 2009 and the first half of available for several more months, it is expected that 2010. These factors also helped drive capital goods and the state's exports also increased as a share of output. consumer goods exports on the world level. However, these were temporary in nature and have mostly ended. As a result, global trade has slowed dramatically, from a 21.1% annualized rate in the first half of 2010 to 1.65% The dollar is expected to remain weak. IHS Global in the third quarter of 2010. Despite the deceleration, Insight expects the dollar will decline 3.6% in 2011 but the recovery is becoming more broad-based, both on the world scale and at home in the U.S. According to the World Bank's analysis, Global trade should Overall, IHS Global Insight expects national goods continue to expand, although at a lower rate than exports to increase 17.5% in 2011 and 10.6% in 2012. during the initial post-recession rebound. Further evidence of strong export growth is seen in the export index from the ISM Manufacturing survey. This This increase in global trade translates to export growth measure increased to a level of 62.5 in February, for the U.S. and Wisconsin. Export growth to signaling strong growth in the months ahead. In advanced economies, which make up the bulk of U.S. addition, GDP growth for the nation's major trading exports, will be somewhat constrained over the next partners is expected to increase 2.3% in 2011 and 2.4% several years. However, developing nations, which take in 40% of U.S. exports, should continue to have strong economic growth. As such, American exports to these Wisconsin's Export Markets 
The strength of the dollar also has implications for U.S. Wisconsin's Top Five Export Markets in 2010: export growth. As the dollar weakens, American goods become relatively less expensive, driving demand for ƒ $6.0 billion: Canada (30.5% of the total) American goods. The inverse relationship between U.S. exports and the value of the dollar is plotted below. The dollar index, measured by the blue line, is the trade-weighted value of the dollar relative to the U.S. Exports and the Value of the U.S. Dollar Canada is Wisconsin's number one export market. In 2010, 30.5% of total Wisconsin exports went to Canada, totaling $6.0 billion worth of products. Exports to Canada from Wisconsin increased 24.9% over 2009 levels, and are 46.0% above 2000 levels. Nationally, exports to Canada are 19.4% of all exports, totaling $248.2 billion. Wisconsin exports 2.4% of U.S. shipments to Canada, ranking 12th in the nation. Michigan and Texas are the largest state exporters to The dollar rose in 2000 and 2001, and exports during that time were flat or falling. The dollar began to fall in Largest exports to Canada from Wisconsin in 2010: 2002 and continued moving lower until a brief uptick in late 2008. The rise in 2008 and the subsequent ƒ $1.4 billion: machinery (22.8% of the total) falloff in exports was a result of the financial crisis. As ƒ $785.8 million: transportation equipment (13.0%), the dollar fell, exports rose, rising an average of 10.9% from 2003 to 2008. The dollar's average decline during ƒ $610.9 million: processed foods (10.1%) 1 World Bank: "Global Economic Prospects 2011: Developments in Exports to Mexico totaled $2.0 billion in 2010, equaling 2 Wells Fargo, "Can America Double Its Exports in Five 10.2% of total Wisconsin exports. Exports to Mexico increased 26.8% from 2009, and have increased 198.3% 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Nationally, 12.8% of exports are destined for Mexico, Largest exports to China from Wisconsin in 2010: totaling $163.3 billion worth of products. Wisconsin makes up 1.2% of all U.S. exports to Mexico, ranking ƒ $423.7 million: machinery (31.8% of total), mostly 13th nationally. The largest state exporters to Mexico ƒ $342.3 million: computers and electronics (25.7%) Largest exports to Mexico from Wisconsin in 2010: ƒ $113.8 million: waste & scrap (8.5%) ƒ $69.6 million: fabricated metal (5.2%) ƒ $324.5 million: transportation equipment (16.1% of all exports), mostly motor vehicle parts ƒ $317.3 million: machinery (15.8%), mostly HVAC/commercial refrigeration and general Wisconsin exports to Germany totaled $745.3 million ƒ $219.9 million: electrical equipment (10.9%) in 2010, 3.8% of total exports and a 16.3% increase ƒ $204.4 million: computers and electronics (10.2%) over 2009 levels. Since 2000, exports to Germany have ƒ $139.6 million: fabricated metals (6.9%) Nationally, exports to Germany are 3.8% of the total, and Germany ranks sixth in exports destination for the Exports to China from Wisconsin reached a new high U.S. Wisconsin's exports to Germany make up 1.5% in 2010 at $1.3 billion worth of product, a 26.8% of U.S. exports to the country, ranking Wisconsin 25th. increase over 2009 levels. Exports to China have California and Puerto Rico are the largest sources of increased 651.5% since 2000, fastest of the five largest destinations and much greater than the 88.3% increase in total exports from Wisconsin. Despite this fast Largest exports to Germany from Wisconsin in 2010: growth, exports to China are only 6.7% of total Wisconsin exports. Nationally, exports to China are ƒ $198.6 million: computer and electronics (26.6% of 7.2% of the total. Wisconsin is the origination of 1.5% of U.S. exports to China, ranking it 19th in the U.S. California, Washington, and Texas are the largest ƒ $71.4 million: transportation equipment (9.6%) ƒ $31.7 million: miscellaneous manufactures (4.1%) Machinery
Goods shipped from Wisconsin to Japan increased 6.7% in 2010 to $731.3 million, 3.7% of all Wisconsin Wisconsin exports more machinery than any other type exports. Since 2000, exports to Japan have actually of product. In 2010, machinery exports were 27.1% of declined 2.3%, the only of the top five destinations to total exports, valued at $5.4 billion worth of goods. see a decline in Wisconsin shipments. Japan was the Machinery exports increased 9.7% in 2010 but are third-largest destination for Wisconsin's products in While machinery is Wisconsin's largest export, it is only Exports from the U.S. to Japan are 4.7% of national the fourth largest for the U.S., at 10.8% of total U.S. exports, and Japan is the fourth-largest destination of exports. Wisconsin exports 3.9% of total U.S. exports U.S. products. Exports originating in Wisconsin make of machinery. The largest state exporters of machinery up 1.2% of all U.S. exports to Japan. California and Washington are the largest state exporters to Japan. Largest importers of Wisconsin machinery: Largest exports to Japan from Wisconsin in 2010: ƒ $1.4 billion: Canada (25.7% of the total) ƒ $307.9 million: computers and electronics (42.1% ƒ $74.0 million: processed foods (10.1%) ƒ $38.8 million: transportation equipment (5.3%)   Wisconsin's Export Products 
ƒ $2.0 billion: agriculture and construction machinery Wisconsin's Top Five Export Products in 2010: ƒ $1.2 billion: general purpose machinery (23.2%) ƒ $835.0 million: engines, turbines, and power ƒ $5.4 billion: machinery (27.1% of the total) ƒ $3.4 billion: computers and electronics (17.1%) ƒ $1.8 billion: transportation equipment (9.0%)
Computers and Electronics
The second most commonly exported good from omputer and electronic equipment exports: Wisconsin is computers and electronics. This category of products was 17.1% of total Wisconsin exports, ƒ $1.7 billion: navigational, measuring, medical, or valued at $3.4 billion in 2010. Exports of computers ƒ $656.7 million: computer equipment (19.4%) ƒ $526.2 million: semiconductors (15.5%) Computers and electronics are also the second largest tation Equipment
export good from the U.S. at 14.9% of the to Transportation equipment is Wisconsin's third largest rig nated in Wisconsin. The largest state export good. In 2010, 9.0% of exports were rs of computers and electronics are California of goods. While this category of goods increased 17.2% over its 2009 level, it is still 32.2% below it's Nationally, transportation equipment is the largest category of exports, at 14.9% of the total. Wisconsin exports of transportation equipment are 0.9% of the national total. Washington and Michigan are the largest s e exporters of transportation equipment. Agriculture and Livestock Exports
Foreign destinations are an important market for Wisconsin's farmers. Agricultural exports, not including processed foods, totaled $816.3 million in 2010. This was an increase of 76.9% over 2009 levels. According to a recent report from the Wisconsin Department of Agriculture, Trade, and Consumer Protection (DATCP), export revenues accounted for 30% of Wisconsin farm cash receipts in 2008.3 Other highlights from the DATCP report:  Top categories of agricultural and livestock Agricultural Exports from Wisconsin
$ Millions
ƒ $89.6 million: other animals (not fish) ƒ $18.8 million: forestry products (2.3%) 3 2010 Export Statistics, Wisconsin Department of Agriculture, Trade, and Consumer Protection, Wisconsin Largest importers of Wisconsin transportation Largest importers of Wisconsin processed foods: ƒ $610.9 million: Canada (46.9% of the total) ƒ $785.8 million: Canada (44.0% of the total) Main processed foods exported from Wisconsin: Main transportation equipment exports from ƒ $298.9 million: meat products and meat packaging ƒ $298.7 million: dairy products (22.9%) ƒ $998.8 million: motor vehicle parts (56.0% of total) ƒ $208.8 million: foods, not elsewhere classified ƒ $245.6 million: aerospace products & parts (13.8%) ƒ $204.1 million: motor vehicles (11.4%) Chemicals
Exports of motor vehicle parts peaked in 2006. They flattened for several years before declining sharply in The fifth most commonly exported good from 2009. This category increased 43.5% in 2010 but is still Wisconsin is chemicals. This category of products was 5.9% of total Wisconsin exports, valued at $1.2 billion in 2010. Exports of chemicals increased 19.7% over In 2008 motor vehicles was the second largest sector of their 2009 levels and surpassed their 2008 peak. transportation goods exported from Wisconsin, at 31.0% of the total. But with the closing of the Chemicals are the third largest export good from the Janesville GM plant in December of 2008, exports of U.S. at 14.0% of the total. In 2010, 0.7% of chemical motor vehicles have declined 75.0% since their 2008 exports from the U.S. originated in Wisconsin. Texas and Puerto Rico are the largest exporters of U.S. Processed Food
Largest importers of Wisconsin chemical exports: The fourth largest category of exports from Wisconsin is processed food. In 2010 this group of goods was ƒ $318.7 million: Canada (27.2% of the total) 6.6% of total exports. At $1.3 billion worth of products, this group increased 19.5% over 2009 levels and is up 7.1% over the previous peak reached in 2008. Nationally, processed foods are the ninth largest exported product, at 4.1% of total. Wisconsin exports Main chemical products exported from Wisconsin: 2.5% of the U.S. total. California and Texas are the largest state exports of processed food, together ƒ $354.4 million: pharmaceuticals and medicines ƒ $282.7 million: basic chemicals (24.1%) ƒ $186.4 million: soaps, cleaning compounds and This report was prepared by Emily Camfield of the
Wisconsin Department of Revenue - Division of Research & Policy
based on data from the U.S. Department of Commerce. Questions
Wisconsin Exports: Destination Detail
Source: Origin of Movement (OM) Series from the Foreign Trade Division of the U.S. Census Bureau Wisconsin Exports: Product Detail
Source: Origin of Movement (OM) Series from the Foreign Trade Division of the U.S. Census Bureau

Source: http://www.dor.state.wi.us/ra/10exports.pdf