Minnesota Exports Slide 19% to $5.8 Billion in Second Quarter

Data on Minnesota Exports for Second Quarter 2025 – Published September 2025

For More Information: Mary Haugen ([email protected])

• Minnesota’s exports of goods (including agriculture, mining and manufacturing) declined to $5.8 billion in the second quarter 2025, tumbling 19% since the second quarter of 2024.
• The state’s exports were most impacted by the massive drop in mineral fuel, oil sales – down $703 million, or down 96% – without which Minnesota exports would have fallen 10%.
• U.S. exports grew 6% during this period. State trends were split, with half of states having gains.
• U.S. businesses continued to face changing national tariff policies on imports and exports.

Figure 1. Mixed Performances Across States

Brighter Trends in Europe and Latin America, But Weaker Trends Elsewhere

• Exports dropped to North America($2.1 billion, down 37%), as sales sank to both Canada (down 45%) and Mexico (down 22%). For Canada, the driving force was mineral fuels, for which it is also the state’s primary market. Across North America, exports fell by over $100 million for each vehicles and machinery
• Minnesota exports to Asia ($1.6 billion) slipped 8%. While demand slid in China (down 21%), Taiwan (down 33%) and the Philippines(down 37%), it grew in India (up 32%), Thailand (up 18%) and Singapore (up 16%).
• European markets outside the European Union($329 million, up 37%) and Caribbean, Central America and South America markets ($366 million, up 12%) offered key positive performances. High growth markets in these regions included the K. (up 52%), Switzerland (up 24%), Chile (up 116%) and Brazil (up 16%). Exports to European Union markets ($1.1 billion) grew modestly, by 1%.

Figure 2. Export Trends for Minnesota’s Top 10 Markets, Second Quarter 2025

Widespread Slump Among Major Product Categories, Growth in Limited Areas

• Significant downward trends in major products – led by mineral fuel, oil(down 96%), machinery (down 17%), vehicles (down 28%), optic, medical (down 8%), stone, plaster, cement (down 62%) – depressed exports.
• Exports ofmineral fuel, oil ($29 million; including motor fuel) plunged $703 million to Canada  
• Sales of machineryand vehicles struggled in North America and China. Segments such as vehicle and engine parts; special purpose and passenger vehicles; centrifuges and filters; and computers fell the most.
• While exports of optic, medicalgoods declined to markets in Asia and North America, they rallied and strongly expanded in multiple European markets, including Germany (up 22%) and Switzerland (up 68%).
• The steep decline in stone, plaster, cement exportswas triggered by abrasive products (down $33 million).
• On the bright side, electrical equipment; pharmaceuticals;dairy, eggs, honey; albumin, starch, glue; and oil seeds, misc. grain turned in strong performances.
• Diversified markets for electrical equipmentspurred export growth. They included the K. (up 132%) and Ireland (up 44%) in Europe; Singapore (up 92%) and Korea (up 82%) in Asia; and Brazil (up 167%). Electric generators (up 38%), batteries (up 34%) and insulated wires, cables (up 14%) jumped the most in value.

Figure 3. Electrical Equipment Exports

• Robust export growth in pharmaceuticals($78 million, up 41%) was fueled by immunological products ($61 million, up 86%) – particularly to Ireland ($26 million, up 142%) and the U.K. ($10 million, up 854%).
• Sales of dairy, egg, honey($53 million, up 53%) grew briskly to Canada (up 619%, based on demand for fresh chicken eggs), while aircraft, spacecraft exports were uplifted by Germany (up 80%) and Brazil (up 111%).
• Mexico($52 million, up 25%) bolstered exports of oil seeds, misc. grain ($99 million, up 15%; largely soybeans) while India ($6 million, up from $813,000) and Germany ($10 million, up 102%) drove export gains in albumins, starches, glue products (such as for concentrated whey proteins and other protein derivatives).

Figure 4. Export Trends for Minnesota’s Top 10 Products, Second Quarter 2025