Exports from the metro Milwaukee area increased nearly 7% in 2023, even as the region saw mostly flat growth in the fourth quarter, according to new data from the U.S. Census Bureau.
The region, which includes Milwaukee, Waukesha, Ozaukee and Washington counties, exported $9.35 billion in goods for the year, an increase of 6.8% from the prior year. Metro exports have seen strong growth in recent years, increasing 9.6% in 2021 and 20.2% in 2022.
In 2023, export growth was strongest in the first half of the year with increases of 14.6%, 7.7% and 5.6% in the first, second and third quarters respectively.
For the fourth quarter, exports were up just 0.3% to $2.34 billion, according to Census data. The fourth quarter did present a tough comparison to 2022 when exports were up 19.6% amidst a run of five straight quarters with double digit increases.
Milwaukee’s export growth ranked in the middle of the pack compared to Midwest metros tracked by the Census Bureau.
Indianapolis saw the strongest growth with a 54.4% increase followed by Peoria, Illinois, up 14.6%, Detroit, up 12.3%, Kansas City, up 10.8%, and Columbus, Ohio, up 10.3%.
Trailing Milwaukee were Chicago, down 9.5%, St. Louis, down 3.4%, Minneapolis-St. Paul, up 1.1% and Cleveland, up 3.3%.
As a whole, the Midwest metros saw export growth of 5.1%. The Midwest was the only region to see overall growth for the year. The Northeast was down 6.3%, the West was down 5.5% and the South was down 2.6%.
