Minnesota agriculture has been particularly impacted by the coronavirus restrictions and lockdowns. | GettyImages
Minnesota agriculture has been particularly impacted by the coronavirus restrictions and lockdowns. | GettyImages
In a development that many expect to be the result of the coronavirus pandemic and related lockdowns, reports show that Minnesota's exports are down 14% from the previous year in the third quarter, a Minnesota Department of Employment and Economic Development (DEED) press release reported.
The 14% drop represents a figure totaling $803 million. The rest of the U.S. is down 13% meaning the state performed slightly worse than average. Exports fell in 43 states around the country.
“Exports play a critical role in Minnesota’s economy. The Minnesota Trade Office continues to support exporters by pivoting their services to meet the current demands of our virtual environment, including trade missions, webinars and engaging the state’s foreign offices and industry leaders to assist small- and medium-sized companies in exploring and expanding their international sales," DEED Commissioner Steve Grove said.
The state's exports are expected to recover following the availability of a vaccine for distribution in the U.S., but businesses in the state still have a long way to climb to return to previous levels.
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