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Import/Export Price Indexes

Great Lakes States: Price Movements of Top Exports and Other Highlights

July 2021

scenery in Michigan

The Great Lakes states—composed of Illinois, Ohio, Michigan, Indiana, Wisconsin, and Minnesota—exported a total trade value of $218.4 billion in 2020, declining 13.2 percent from 2019. Prices for export transportation equipment manufacturing advanced 0.1 percent over the 3-month period ended in June. Export prices for chemical manufacturing and machinery manufacturing also rose from April to June. Overall manufacturing export prices increased 3.8 percent over the past 3 months.

Top Six Great Lakes Exports by Trade Dollar Value, 2020

  • In 2020, the Great Lakes states exported a combined trade dollar value of $218.4 billion, which accounted for 15.3 percent of total U.S. exports.
  • Transportation equipment manufacturing was the largest export industry in the Great Lakes, with the region accounting for 24.9 percent of total U.S. exports by trade dollar value for the industry.
  • The second-largest Great Lakes export industry, chemical manufacturing, accounted for 18.6 percent of the sector’s U.S. total export trade value.

U.S. Export Price Indexes: Transportation Equipment Manufacturing

  • Transportation equipment manufacturing export prices rose 0.1 percent from March to June.
  • The index for export transportation equipment manufacturing prices increased 2.0 percent from June 2020 to June 2021.
  • A 4.0-percent advance in motor vehicle body and trailer manufacturing prices contributed to the over-the-year increase in prices for transportation equipment manufacturing.

U.S. Export Price Indexes: Chemical Manufacturing

  • The price index for chemical manufacturing rose 7.0 percent in the second quarter of 2021.
  • Chemical manufacturing prices advanced 23.7 percent over the past 12 months.
  • A 35.9-percent rise in prices for pesticide, fertilizer, and other agricultural chemical manufacturing led the 12-month rise in overall chemical manufacturing prices.

U.S. Export Price Indexes: Machinery Manufacturing

  • Machinery manufacturing export prices rose 1.2 percent for the 3-month period ended June 2021.
  • The 3-month rise for machinery manufacturing export prices was driven by a 2.1-percent increase in agriculture, construction, and mining machinery manufacturing.
  • Over the past 12 months, prices for export machinery manufacturing rose 2.2 percent.

U.S. Export Price Indexes: Great Lakes States by Export Trade Dollar Value, 2020

  • The Great Lakes states accounted for 15.3 percent of total U.S. goods exports by trade dollar value in 2020.
  • The top 3 exporters within the Great Lakes region—Illinois, Ohio, and Michigan—represented 10.0 percent of total U.S. exports.
  • Illinois accounted for 24.5 percent of total Great Lakes exports, while Ohio and Michigan represented 20.6 percent and 20.1 percent, respectively.

 

Midwest Information Office • BLSInfoChicago@bls.gov • https://www.bls.gov/regions/midwest/ • 312-353-1880 

 

Last Modified Date: August 4, 2021