Import/Export Price Indexes
Great Lakes States: Price Movements of Top Exports and Other Highlights
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 export transportation equipment manufacturing increased in February. The export price indexes for chemical manufacturing and machinery manufacturing also advanced in February. Export prices for overall manufacturing rose 0.4 percent in February.
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 0.5 percent in February.
- The index for export transportation equipment manufacturing prices increased 5.3 percent for the 12 months ended February 2023.
- The over-the-year increase in prices for export transportation equipment manufacturing was the largest since the 12-month percent change series was first published in December 2006.
U.S. Export Price Indexes: Chemical Manufacturing
- The price index for chemical manufacturing exports increased 0.5 percent in February.
- Despite the February rise, export chemical manufacturing prices declined 4.8 percent over the past year.
- A 23.6-percent drop in resin, synthetic rubber, and artificial synthetic fibers and filaments prices led the 12-month decrease in prices for chemical manufacturing.
U.S. Export Price Indexes: Machinery Manufacturing
- Export machinery manufacturing prices rose 0.2 percent in February.
- Prices for export machinery manufacturing advanced 6.1 percent over the 12 months ended February 2023.
- The 12-month increase in February was driven by a 9.2-percent rise in prices for commercial and service industry machinery manufacturing.
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: March 22, 2023