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Import/Export Price Indexes

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

November 2022

scenery in Michigan

The Great Lakes states—composed of Illinois, Ohio, Michigan, Indiana, Wisconsin, and Minnesota—exported a total trade dollar value of $261.4 billion in 2021, an advance of 13.2 percent from 2020. Prices for export transportation equipment manufacturing were unchanged in October. The export price index for machinery manufacturing increased in October, and chemical manufacturing prices decreased over the same period. Overall manufacturing export prices rose 0.4 percent in October.

Top Six Great Lakes Exports by Trade Dollar Value, 2021

  • The Great Lakes states exported a combined trade dollar value of $261.4 billion in 2021, accounting for 14.9 percent of total U.S. exports.
  • Transportation equipment manufacturing was the largest 2021 export industry in the Great Lakes, with the region representing 25.5 percent of total U.S. exports by trade dollar value for the industry.
  • The top 6 Great Lakes export industries accounted for 71.9 percent of the region's U.S. total export trade value in 2021.

U.S. Export Price Indexes: Transportation Equipment Manufacturing

  • Transportation equipment manufacturing export prices were unchanged in October.
  • The index for export transportation equipment manufacturing prices increased 4.0 percent for the 12 months ended October 2022.
  • A 7.7-percent advance in motor vehicle parts manufacturing prices drove the 12-month increase in prices for transportation equipment manufacturing.

U.S. Export Price Indexes: Chemical Manufacturing

  • The price index for chemical manufacturing exports decreased 2.4 percent in October.
  • A 12.1-percent drop in resin, synthetic rubber, and artificial synthetic fibers and filaments prices led the monthly decrease in prices for chemical manufacturing.
  • The index for export chemical manufacturing prices declined 1.8 percent over the past year.

U.S. Export Price Indexes: Machinery Manufacturing

  • Export machinery manufacturing prices increased 0.5 percent in October.
  • Prices for export machinery manufacturing advanced 6.7 percent over the 12 months ended October 2022.
  • The 12-month rise in machinery manufacturing prices was driven by a 7.5-percent increase in prices for agriculture, construction, and mining machinery manufacturing.

Great Lakes States by Export Trade Dollar Value, 2021

  • The top 3 exporting states within the Great Lakes region—Illinois, Michigan, and Ohio—represented 9.8 percent of total U.S. exports by trade dollar value.
  • Illinois accounted for 25.2 percent of total Great Lakes exports, while Michigan and Ohio represented 21.3 percent and 19.3 percent, respectively.
  • Indiana, Wisconsin, and Minnesota combined for 34.2 percent of Great Lakes exports by trade dollar value in 2021.

 

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

 

Last Modified Date: November 23, 2022