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Import/Export Price Indexes

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

July 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, advancing 13.2 percent from 2020. Prices for export transportation equipment manufacturing ticked up in June. The export price index for machinery manufacturing fell over the same period, and the export price index for chemical manufacturing was unchanged. Overall manufacturing export prices increased 0.4 percent in June.

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 ticked up 0.1 percent in June.
  • The index for export transportation equipment manufacturing prices increased 3.9 percent for the 12 months ended June 2022.
  • A 9.7-percent rise 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 exports was unchanged in June.
  • The index for chemical manufacturing prices advanced 3.9 percent over the past year.
  • The 12-month rise in overall chemical manufacturing prices was led by a 46.2-percent increase in prices for pesticide, fertilizer, and other agricultural chemical manufacturing.

U.S. Export Price Indexes: Machinery Manufacturing

  • Machinery manufacturing export prices fell 0.2 percent in June.
  • The June decline was the largest 1-month decrease since the index fell 0.4 percent in November 2020.
  • Prices for export machinery manufacturing advanced 6.2 percent over the 12 months ended June 2022.

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: July 25, 2022