Wisconsin exports do a bit better in July

Posted on Sep 3, 2020 :: Insight on Business, Web Exclusive
Posted by of Insight Publications

Wisconsin businesses exported more products in July compared to the three previous months, according to new data from the U.S. Census Bureau.

In July, exports dropped 3.1 percent from the same period last year — a dramatic improvement over totals in April, May and June when the state saw its exports decline by double-digit percentages each month due to the coronavirus pandemic.

For the month of July, Wisconsin exported $1.67 billion in goods, bringing the 2020 total to $11.41 billion, a decline of 10.1 percent from last year. Although Wisconsin saw a decline compared to a year ago, July’s numbers were strong enough to be ranked ninth in the nation. The state’s exports to China increased 14.3 percent to $107 million while exports to Europe increased 8.8 percent to $346.6 million.

Though exports increased to China and Europe in July, Wisconsin exports to its largest two trading partners — Canada and Mexico — decreased 3.1 percent and 22.6 percent, respectively. For the first seven months of 2020, exports to Canada, Wisconsin’s top trading partner, were down 14.2 percent while exports to Mexico declined 30.8 percent.

The amount of goods imported to Wisconsin fell 5.7 percent in July and are down 9.6 percent for the year.