Illinois Exports Stall
According to Crain’s Chicago Business magazine, exports from Illinois have fallen last year. But that’s mainly due to the drought and decline in corn and soybean output.
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Overall, exports of Illinois manufactured goods, which accounted for 80 percent of the state’s $68.03 billion in foreign sales last year, rose 7.5 percent, while exports of non-manufactured commodities, mostly corn and soybeans, sagged 7.2 percent. Many types of manufactured goods still are increasing by rates of 20 percent or more, including some of the state’s biggest exports such as earth-moving equipment made by Peoria-based Caterpillar Inc. and tractors and combines from Moline-based Deere Inc.
Other big Illinois exports, such as automobiles, aircraft parts, medical instruments, telecommunications equipment and electrical controls grew by 10 percent or less last year, while exports of parts for engines and industrial equipment declined.
This should also be good news for Rockford area manufacturers who do a fair amount of exporting as well.