Missouri’s exports increased 13.1% from the second quarter of 2023 to the second quarter of this year and totaled slightly less than $10 billion as Missouri Republican Gov. Mike Parson completed his 11th trade mission earlier this month.
Parson visited Panama in early August, the 15th country visited. During those trips, he was joined by business leaders, elected officials from both parties and members of his cabinet as they promoted the state. However, exports to North America accounted for more than half of Missouri exports, according to information from the Missouri Economic Research and Information Center.
“Over half of all Missouri’s export income came from the top three recipients in 2024,” according to the report. “Canada purchased just under $3.5 billion in goods, followed by Mexico ($2 billion), and Japan ($603 million).”
Parson led a contingent to Japan last October, but didn’t visit Canada or Mexico during his tenure as governor. Parson led a contingent to Israel, United Arab Emirates and Greece in November, 2022. The center reported Israel had the largest increase in exports (598%) from the second quarter in 2023 ($15.68 million) to the second quarter of this year ($97.94 million). The top export industry was aerospace products and parts.
Key Export Destinations and Growth
Japan increased 141% as it reported $491 million in exports with $382 million in the computer equipment sector. Vietnam had a 114% increase at $45.85 million and the largest sector was resin, synthetic rubber and artificial synthetic fibers.
Funding the Trade Missions
The Hawthorn Foundation, a nonprofit founded in 1981 by Republican Kit Bond, a former Missouri governor and U.S. Senator, pays for the governor’s trade mission trips. The organization provided $889,007 in support of trade missions in fiscal year 2023, according to documents posted on the foundation’s website. Trade missions in that year included two to Germany, the Netherlands, Israel, United Arab Emirates, Greece and Sweden.
Travel Restrictions During the Pandemic
Travel restrictions during the COVID-19 pandemic kept Parson from traveling in 2020 and 2021 after he visited France, Germany and Switzerland in 2019. He also made a trip to California in 2019 to meet with technology executives in the San Francisco Bay area.
Promoting Missouri's Strengths
Parson and the Missouri delegations often emphasized the state’s central location, tax rate, economic conditions, workforce and infrastructure during trade missions.
“Whether it was here at home or in Germany, Israel, Australia, or anywhere in between, we never stopped advocating for our state on behalf of Missourians,” Parson said in a statement. “And we are extremely proud that our trade delegations have helped bring over $3 billion in business investment and more than 1,500 new job opportunities to hardworking Missourians, their families, and our communities.”
Who Funds the Missions?
The Hawthorn Foundation’s top contributors are Ameren Missouri, Missouri Farmers Care and Spire, all donating $75,000 annually. Bayer, Kansas City Southern Railways and Missouri Employers Mutual each support the organization with $50,000 annually. Approximately 50 organization donate $10,000 annually.
The trade missions have been instrumental in driving economic growth in Missouri. By showcasing the state's strengths and fostering international partnerships, the missions have helped attract substantial investment and create new job opportunities. With continued emphasis on strategic trade diplomacy, Missouri can further strengthen its position in the global marketplace and enhance its economic competitiveness.
The success of the trade missions is a testament to the state's dedication to economic development and its commitment to forging strong connections with global partners. The missions have played a significant role in shaping Missouri's economic landscape and propelling its future growth. As Missouri continues to prioritize international trade, its exports are poised for continued growth and prosperity.
