ND exports increase by nearly $900M
North Dakota exports increased by about $900 million in 2011, led by strong global sales of machinery and a record volume of crude that was shipped to Canada before returning to the U.S. by pipeline.
BISMARCK, N.D. (AP) — North Dakota exports increased by about $900 million in 2011, led by strong global sales of machinery and a record volume of crude that was shipped to Canada before returning to the U.S. by pipeline.
Federal Commerce Department statistics show North Dakota's exports totaled $3.4 billion last year, up from $2.5 billion in 2010.
Last year was the first time in North Dakota that oil export value exceeded agriculture product exports, which were pegged at $551 million.
Commercial Service state director Heather Ranck calls the increase in oil exports misleading since the oil ultimately ends up at U.S. refiners.
Machinery exports totaled $1.03 billion last year, up from $827 million in 2010 but down from a decade-high of $1.18 billion in 2008.
Tags: news, updates, business, exports
More from around the web