That dollar amount results from a 44.6% acceleration from $44.9 billion back in 2020.
Year over year, the total value of Michiganian exports rose 5.7% compared to $61.4 billion during 2022.
Michigan ranked seventh among America’s 10 biggest exporters by state. It trails leaders including Texas, California, Louisiana, New York state, Illinois and Florida.
Michigan’s exported products represent 13.2% of the state’s total economic output or Gross Domestic Product in 2023 ($493.2 billion). That percentage compares to 12.7% for 2022.
The most valuable products shipped from Michigan continue to be cars, trucks and automotive parts or accessories..
Given Michigan’s population of 10 million people during 2023, its total $64.9 billion in 2023 exports translates to roughly $6,500 for every resident in the Great Lakes and Midwestern state. That dollar metric exceeds the average $6,100 per capita one year earlier during 2022.
Michigan’s unemployment rate was 3% in February 2024, down from 3.8% one year earlier per YCharts.
Michigan’s Top 10 Exports
The following export products represent the highest dollar value in Michigan’s global shipments during 2023. Also shown is the percentage share each export category represents in terms of overall exports from Michigan.
Figures are shown at the more granular six-digit Harmonized Tariff System code level, for more precise product identification.
- Small trucks (piston engine): US$7.2 billion (11.1% of Michigan’s exports)
- Large automobiles (piston engine): $3.6 billion (5.5%)
- Motor vehicle gear boxes: $3.1 billion (4.8%)
- Motor vehicle body parts, accessories: $2.4 billion (3.7%)
- Miscellaneous motor vehicle parts, accessories: $1.34 billion (2.1%)
- Vehicle rear-view mirrors: $1.18 billion (1.8%)
- Medium-sized automobiles (piston engine): $1.17 billion (1.8%)
- Natural gas in gaseous state: $1.12 billion (1.7%)
- Civilian aircraft, engines, other parts: $1.07 billion (1.6%)
- Lithium ion batteries: $974.2 million (1.5%)
Michigan’s top 10 exports accounted for 35.8% of the overall value of the state’s global shipments.
Among Michigan’s above major exports, the fastest gainers were lithium ion batteries (up 133.7% from 2022), motor vehicle gear boxes (up 29.8%), civilian aircraft and aircraft engines or other parts (up 21%), motor vehicle body parts or accessories (up 18.9%), then miscellaneous motor vehicle parts or accessories (up 15.3%).
There were 3 year-over-year declines among Michigan’s top 10 export products. These were natural gas in gaseous state (down -42.2% from 2022), medium-sized automobiles powered by piston engine (down -22.6%) then large automobiles powered by piston engine (down -12.1%).
More Key Facts about Michigan’s International Trade
Overall, Michigan incurred a -US$106.5 billion deficit exporting and importing products during 2023. That dollar amount reflects a 16.7% expansion from -$91.3 billion in red ink in 2022.
Another way of saying surplus or deficit is positive or negative net exports. In a nutshell, the term “net exports” quantifies the amount by which foreign spending on a state’s goods or services exceeds or lags that same state’s spending on foreign goods or services.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
Goods imported into Michigan totaled $171.4 billion for 2023, up 12.2% from $152.7 billion during 2022.
Below are Michigan’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2023.
- Small automobiles (piston engine): US$18.2 billion (10.6% of Michigan’s imports)
- Small trucks (piston engine): $15.8 billion (9.2%)
- Mid-sized automobiles (piston engine): $11.1 billion (6.5%)
- Large automobiles (piston engine): $9.6 billion (5.6%)
- Small diesel-powered trucks: $8.4 billion (4.9%)
- Motor vehicle body parts, accessories: $5.4 billion (3.1%)
- Miscellaneous motor vehicle parts: $4.7 billion (2.7%)
- Spark-ignition reciprocating piston engines: $4.2 billion (2.4%)
- Motor vehicle gear boxes: $3.94 billion (2.3%)
- Motor vehicles with electric motor only: $3.7 billion (2.2%)
Michigan has billion-dollar negative net exports from its international trade of motor vehicles powered by electric engine only. This shows the strong impact of foreign-supplied electric vehicles on Michigan’s global balance sheet.
Michigan’s Major Trading Partners
The following list shows the top 10 customers that purchase over four-fifths (82.2%) worth of the total value of products exported from Michigan during 2023.
- Canada: US$27.5 billion (42.3% of Michigan’s total exports)
- Mexico: $14.9 billion (22.9%)
- China: $2.45 billion (3.8%)
- Germany: $2 billion (3.1%)
- Japan: $1.6 billion (2.4%)
- Australia: $1.1 billion (1.7%)
- Brazil: $1.07 billion (1.6%)
- South Korea: $1.02 billion (1.6%)
- Thailand: $1.01 billion (1.6%)
- Italy: $781.1 million (1.2%)
Michigan’s trade partners in North America, Canada and Mexico, generated nearly two-thirds (65.3%) of the overall value of exported goods from the state.
In contrast, Michigan sold 9.3% worth of its exports to leading importers in Asia (mainland China, Japan, South Korea and Thailand) during 2023.
Michigan’s Export Companies
Five of Michigan-headquartered corporations rank among Forbes Global 2000. These are shown in the top positions listed below.
The other 5 leading companies headquartered in Michigan are leading American businesses according to the Fortune 500 ranking.
- General Motors (automobile manufacturer)
- Dow Chemical (diversified chemicals)
- Ford Motor (automobile manufacturer)
- Whirlpool (household appliances)
- Penske Automotive (automobile parts, accessories)
- Lear Corp (automotive seating, electrical)
- Kellogg’s (processed foods)
- Stryker Corporation (medical devices)
- DTE Energy (electricity, natural gas)
- BorgWarner (vehicle transmissions)
Shown within brackets for each company is a summary of the international trade-related product category which each company sells.
Michigan’s capital city is Lansing, nicknamed L-Town and the Heart of Michigan.
See also America’s Top 20 Export States, United States Top 10 Exports and Top United States Trade Balances
Research Sources:
FlagPictures.org, Flags of US States. Accessed on March 29, 2024
Forbes 2020 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 29, 2024
IBIS World, State Economic Profile (including GDP). Accessed on March 29, 2024
International Trade Centre, Trade Map. Accessed on March 29, 2024
Investopedia, Net Exports Definition. Accessed on March 29, 2024
United States Census Bureau, Foreign Trade (State by 6-Digit HS Code). Accessed on March 29, 2024
United States Census Bureau, QuickFacts: Michigan. Accessed on March 29, 2024
USA Trade Online, Official Source of Trade Statistics. Accessed on March 29, 2024
Wikipedia, List of Companies of Michigan. Accessed on March 29, 2024
Wikipedia, Michigan. Accessed on March 29, 2024
Wikipedia, List of U.S. states and territories by GDP. Accessed on March 29, 2024
YCharts, Regional and State Employment and Unemployment Report. Accessed on March 29, 2024