North Dakota has broken its export record for the year of 2014, according to the U.S. Department of Commerce. Last year the state exported $5.3 billion worth of commodities, a 42 percent increase from 2013.
Last year overall U.S. exports increased by a mere 3 percent. With North Dakota’s 42 percent increase, the state had the second highest annual export growth among all 50 states in 2014. Not surprising is the value of mineral fuels and oil product exportation exceeded the value of other exported goods. The majority of it was shipped to Canada via pipelines.
Mineral fuels and oil products netted $2.7 billion, more than double the 2013 amount. Next on the list was front end loaders, which saw an 8 percent increase from 2013 at $296 million. Wheat exports also increased by $141 million, or 28 percent, while soybean exports grew by $109 million, a 123 percent increase from the previous year.
In a press release, Director of the U.S. Commercial Service office in Fargo Heather Ranck said, “Exports are up, and that’s good news for North Dakota businesses that are pursuing new export horizons. If your business has a good track record of selling in the domestic United States, it’s likely a good candidate for making overseas sales.”
Canada, however, continues to be the number one destination for North Dakota exports. Last year, exports to the northern neighbor totaled $4.1 billion, up from the $2.7 billion from 2013. Canada accounts for 78 percent of North Dakota exports. The other top export destinations include Mexico, Austrailia, Belgium and China.
In 2014, North Dakota climbed from being ranked the 43rd largest exporting state to the 39th, exporting more than Alaska, Idaho, Montana, New Mexico and South Dakota, to name a few. North Dakota jumped ahead of four other states to reach the state’s highest export ranking in history.