That dollar amount reflects a 72.7% boost from $1.39 billion four years earlier for 2020.
Year over year, the overall value of South Dakotan exports grew 1.9% compared to $2.35 billion starting in 2022.
South Dakota ranks as America’s 5th smallest exporter by state ahead of only Montana, Wyoming, Vermont and Hawaii.
The value of South Dakota’s exports equals 0.1% of the United States’ overall exported products for 2023.
Based on research from IBIS World, South Dakota’s exported products represent 4.8% of the state’s total economic output or Gross Domestic Product in 2023 ($50.5 billion).
Given South Dakota’s population of 925,245 people, its total $2.4 billion in 2023 exports translates to roughly $2,600 for every resident in the Mount Rushmore State. That dollar metric equals the average $2,600 per capita one year earlier in 2022.
South Dakota’s unemployment rate was 2% at the end of April 2024, up from the state’s 1.9% jobless rate one year prior per YCharts.
South Dakota’s Top 10 Exports
The following export products represent the highest dollar value in South Dakota global shipments during 2023. Also shown is the percentage share each export category represents in terms of overall exports from South Dakota.
Figures are shown at the more granular six-digit Harmonized Tariff System code level, for more precise product identification.
- Ethyl alcohol and other denatured spirits: US$399 million (16.6% of South Dakota’s exports)
- Brewing/distilling dregs, waste: $145.4 million (6.1%)
- Hams (bone in, fresh/chilled): $124.4 million (5.2%)
- Solid residues including soya bean oil-cake: $117.5 million (4.9%)
- Pork (frozen): $112.4 million (4.7%)
- Frozen pork offal excluding livers: $73.7 million (3.1%)
- Self-propelled works trucks, forklifts: $68.9 million (2.9%)
- Soya beans: $65.2 million (2.7%)
- Bentonite including calcined: $47.1 million (2%)
- Corn: $40.1 million (1.7%)
South Dakota’s top 10 exports generated 49.8% of the overall value of the state’s global shipments.
Frozen pork offal excluding livers represents the fastest grower among the top 10 export categories, up by 291.4% from 2022 to 2023.
In second place for improving export sales was frozen pork, up by 166.9% trailed by South Dakota’s exports of soya beans (up 67.1%) and self-propelled works trucks and forklifts (up 66.1%).
There were two double-digit percentage decliners among South Dakota’s top 10 export products, namely fresh or chilled bone-in hams (down -29.2% from 2022) and solid residues including soya bean oil-cake (down -18.1%).
More Key Facts about Dakota’s International Trade
South Dakota incurred an overall US$713.4 million surplus exporting and importing products during 2023. That dollar amount reflects a 47% expansion from $485.4 million in black ink for 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.
Below are South Dakota’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2023.
- Prepared beef, offal: US$204.9 million (12.2% of South Dakota’s imports)
- Potassium chloride: $52.2 million (3.1%)
- Coniferous wood sawn or chipped lengthwise: $34.4 million (2%)
- Live swine: $32.3 million (1.9%)
- Small portable digital computers: $30.9 million (1.8%)
- Photovoltaic solar cells in modules, panels: $24.6 million (1.5%)
- Unalloyed aluminum (unwrought): $24 million (1.4%)
- Trucks powered by diesel engine: $22.2 million (1.3%)
- Metal pipes reinforced with vulcanized rubber: $20 million (1.2%)
- Parts for harvesters, grass mowers, egg sorters: $18 million (1.1%)
South Dakota has positive net exports in the international trade of denatured spirits such as ethyl alcohol, brewing or distilling dregs and waste, and pork including hams. In turn, these cashflows indicate South Dakota’s competitive advantages under those product categories.
South Dakota’s Major Trade Partners”
The following list shows the top 10 customers that purchased 89% worth of the total value of products exported from South Dakota during 2023.
- Canada: US$1.1 billion (44.4% of South Dakota’s exports)
- Mexico: $508.7 million (21.2%)
- mainland China: $147.1 million (6.1%)
- Japan: $113.1 million (4.7%)
- Netherlands: $60.5 million (2.5%)
- South Korea: $59.5 million (2.5%)
- Australia: $55 million (2.3%)
- Belgium: $52.9 million (2.2%)
- Germany: $42.5 million (1.8%)
- Brazil: $30.5 million (1.3%)
South Dakota’s top trade partners in North America (Canada and Mexico) bought almost two-thirds (65.6%) of the overall value of exported goods from the Mount Rushmore State.
In contrast, importers in leading Asian countries (mainland China, Japan and South Korea) accounted for 13.3% of South Dakota’s export sales in 2023.
South Dakotan Export Companies
Not one South Dakota-based corporation ranks among Fortune 1000 Companies, a list that showcases America’s largest businesses. Selected examples are listed below.
According to Zippia, below are examples of relatively large companies based in South Dakota.
- ANZA Inc. (electronics components)
- Dakota Provisions (poultry-related goods including turkey meat)
- Daktronics (video displays, billboards, scoreboards, sound systems)
- Raven Industries (precision agricultural products, radar systems)
- Trail King Industries (agricultural equipment)
Shown within brackets for each company is a summary of the international trade-related products or services which each business sells.
South Dakota’s capital is Pierre, a small city located on rough river bluffs above the Missouri River’s east bank.
See also Indiana’s Top 10 Exports, Nebraska’s Top 10 Exports, West Virginia’s Top 10 Exports, Delaware’s Top 10 Exports and New Hampshire’s Top 10 Exports
Research Sources:
FlagPictures.org, Flags of US States. Accessed on May 19, 2024
Forbes, Global 2000 rankings, The World’s Biggest Public Companies. Accessed on May 19, 2024
GeoLounge, Fortune 1000 Companies List for 2020 , Fortune 1000 by State and Place. Accessed on May 19, 2024
IBIS World, South Dakota Economic Overview (gross domestic product, population). Accessed on May 19, 2024
International Trade Centre, Trade Map. Accessed on May 19, 2024
Investopedia, Net Exports Definition. Accessed on May 19, 2024
State Symbols USA, State Nicknames. Accessed on May 19, 2024
United States Census Bureau, QuickFacts: South Dakota. Accessed on May 19, 2024
USA Trade Online, Official Source of Trade Statistics. Accessed on October 30, 2023
Wikipedia, Category:Companies based in South Dakota. Accessed on May 19, 2024
Wikipedia, List of U.S. states and territories by GDP. Accessed on May 19, 2024
Wikipedia, South Dakota. Accessed on May 19, 2024
YCharts, Regional and State Employment and Unemployment Report. Accessed on May 19, 2024
Zippia, These are the 100 largest companies in South Dakota. Accessed on May 19, 2024