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The inflation rate might be steadying, but the value of Minnesota exports are down

After two years of large gains, Minnesota's exports declined last year largely because of falling prices and less demand for energy. State exports dropped 8% in 2023 to $25 billion, according to a report from the Minnesota Department of Employment and Economic Development (DEED). U.S. exports also fell last year by 2%. The state agency traced most of the downward trajectory to a 65% decrease .

Minnesota exports down after two big growth years

Minnesota exports down after two big growth years
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The inflation rate might be steadying, but the value of Minnesota exports are down

After two years of large gains, Minnesota's exports declined last year largely because of falling prices and less demand for energy. State exports dropped 8% in 2023 to $25 billion, according to a report from the Minnesota Department of Employment and Economic Development (DEED). U.S. exports also fell last year by 2%. The state agency traced most of the downward trajectory to a 65% decrease .

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