Home Ideas Economy Mexico, Europe lead Wisconsin export gains in Q3

Mexico, Europe lead Wisconsin export gains in Q3

Trucks line up to deliver agricultural products to the privately-operated Cofco International grain elevator in the Milwaukee harbor.
Trucks line up to deliver agricultural products to the privately-operated Cofco International grain elevator in the Milwaukee harbor.

Wisconsin exports increased 1.5% in the third quarter and are now up 1.9% for the full year, driven primarily by higher sales to Mexico and Europe, according to the latest data from the U.S. Census Bureau. Through September, nearly $20.9 billion in goods have been exported from Wisconsin this year, a nearly $400 million increase

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Arthur covers banking and finance and the economy at BizTimes while also leading special projects as an associate editor. He also spent five years covering manufacturing at BizTimes. He previously was managing editor at The Waukesha Freeman. He is a graduate of Carroll University and did graduate coursework at Marquette. A native of southeastern Wisconsin, he is also a nationally certified gymnastics judge and enjoys golf on the weekends.
Wisconsin exports increased 1.5% in the third quarter and are now up 1.9% for the full year, driven primarily by higher sales to Mexico and Europe, according to the latest data from the U.S. Census Bureau. Through September, nearly $20.9 billion in goods have been exported from Wisconsin this year, a nearly $400 million increase from the same period in 2022. The state saw a 4.6% increase in exports for September, which followed a 5.9% increase in August and a 6.3% decline in September. For most of the year, increasing exports to Mexico and Europe have been a main driver for the state. Through September, sales to Mexico are up 21.8% to $3.27 billion. Sales to Europe are also up 11.9% year-to-date, reaching $4.62 billion. In the third quarter, Europe was the main driver with a 25.7% increase while sales to Mexico were up 11.5%. Within Europe, exports to Wisconsin’s largest trading partners in the region has grown, although not as fast as the area overall. Exports to Germany are up 5.8% for the year to $733 million and to the United Kingdom exports have increased 4.4% to $705 million Belgium, the third largest partner in the region, has seen a 22% increase to $641 million and exports to the Netherlands are up 36% to $563 million Exports to the Czech Republic are up nearly 160% to almost $310 million. Outside of Europe and Mexico, exports to Wisconsin’s largest overall trading partner, Canada, are down 1.6% for the year to $6.39 billion. Third quarter exports to Canada were down 5.5%. Exports to Asia are down 6.6% for the year, including a 19.8% decrease in exports to China, which account for 25-30% of exports to the region. Excluding China, exports to Asia are down just under 1% for the year. In the third quarter, exports to Asia overall were down 10%, including a 17.6% decrease in exports to China. Excluding China, exports to Asia were down 7% in the third quarter. Elsewhere, exports to Central America are down 14.6% for the year, South America has seen a 12% decrease and exports to Africa are down 29.5%. Australia and Oceania have seen a 5.1% increase for the year.

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