Russian red creates a black bottom line

Quick: What’s the fastest-growing international buyer of goods and services purchased in Minnesota?

Russia.

It’s one of the factoids from a report on exports today from the Minnesota Department of Employment and Economic Development.

The half-full version is that Minnesota’s exports are up 6.5 percent and we rank 20th in value among all states. The half-empty version is the increase lags the U.S. export growth rate of 10.4 percent.

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Products

Half full: Transportation equipment led the state’s gain.

Half empty: Computer and electronics exports dropped 9 percent.

Buyers

Half full: Canada, Russia, Phillipines and Germany were all significantly bigger buyers.

Half empty: Thailand, Netherlands, Japan bought less than before.

China

Half-full: Exports of printing-related machinery, centrifuges, and engines increased.

Half-empty: Even though China’s economy is expanding like a wildfire, Minnesota exports fell by 6 percent.

Here’s the full report.