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Import/Export Price Indexes

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

January 2024

Photo of a hotel in Mackinac Island, Michigan

The Great Lakes states—composed of Illinois, Michigan, Ohio, Indiana, Wisconsin, and Minnesota—exported a total trade dollar value of $295.4 billion in 2022, an advance of 12.7 percent from 2021. Prices for the largest export industry in the Great Lakes region, transportation equipment manufacturing, increased in December. Export prices for chemical manufacturing and machinery manufacturing declined over the same period.

Top Six Great Lakes Exports by Trade Dollar Value, 2022

  • The Great Lakes states exported a combined trade dollar value of $295.4 billion in 2022, accounting for 14.3 percent of total U.S. exports.
  • Transportation equipment manufacturing was the largest 2022 export industry in the Great Lakes, with the region representing 26.5 percent of total U.S. exports by trade dollar value for the industry.
  • The top 6 Great Lakes export industries accounted for 70.3 percent of the region's U.S. total export trade value in 2022.

U.S. Export Price Indexes: Transportation Equipment Manufacturing

  • Transportation equipment manufacturing export prices advanced 0.1 percent in December.
  • The index for export transportation equipment manufacturing prices rose 4.7 percent for the 12 months ended December 2023.
  • The 12-month rise in prices for export transportation equipment manufacturing was driven by a 7.0-percent rise in prices for aerospace product and parts manufacturing.

U.S. Export Price Indexes: Chemical Manufacturing

  • The price index for chemical manufacturing exports decreased 0.2 percent in December.
  • Export chemical manufacturing prices declined 2.8 percent over the past year.
  • A 4.7-percent decrease in prices for basic chemical manufacturing led the 12-month decline in prices for chemical manufacturing.

U.S. Export Price Indexes: Machinery Manufacturing

  • Export machinery manufacturing prices decreased 0.1 percent in December.
  • Despite the monthly decline, prices for export machinery manufacturing advanced 3.9 percent over the past year.
  • A 5.7-percent increase in other general purpose machinery manufacturing export prices contributed to the 12-month rise in machinery manufacturing prices.

Great Lakes States by Export Trade Dollar Value, 2022

  • The top 3 exporting states within the Great Lakes region—Illinois, Michigan, and Ohio—represented 9.5 percent of total U.S. exports by trade dollar value.
  • Illinois accounted for 26.5 percent of total Great Lakes exports, while Michigan and Ohio represented 20.7 percent and 19.1 percent, respectively.
  • Indiana, Wisconsin, and Minnesota combined for 33.8 percent of Great Lakes exports by trade dollar value in 2022.

 

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

 

Last Modified Date: January 25, 2024