Strong dollar dampens Minnesota export power
The strong dollar is hurting Minnesota exporters.
Minnesota firms sold $5 billion worth of agricultural, mining and manufactured products from July through September, down 10 percent from the same period a year ago.
The strength of the dollar is making U.S. products more expensive for foreign buyers. And that gives Minnesota a lot of company when it comes to sagging exports.
In the third quarter, exports fell in 42 states. Minnesota exports to Canada, the state's largest market, sank 27 percent.
Sales to Asia and Mexico also fell. But buyers in the European Union, Middle East and Central and South America spent more. Optical and medical products were the state's top export, with sales of nearly $900 million.
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