What is Montana’s top export?
In 2022, Montana’s top export was Copper oxides and hydroxides, amounting to $171 million in exports.
Close behind Copper oxides and hydroxides were Copper ores and concentrates, which amounted to a $150 million export value.
Montana exported a total value of $1.95 billion worth of goods in 2022, placing it 50th among the 53 exporters in the nation.
Table of Contents:
- What is Copper Oxide?
- What is Copper Oxide used for?
- Where is Copper Oxide mined in Montana?
- What other goods does Montana export?
- What are the major imports in Montana?
- What is the main industry in Montana?
- What are the other top industries in Montana?
What is Copper Oxide?
Copper Oxide (CuO) is a naturally occurring compound with unique physical, biological, and chemical properties, which make it useful in a variety of applications.
CuO forms when Copper combines with Oxygen, forming either copper (i) oxide, a red powder, or copper (ii) oxide, a black powder.
What is Copper Oxide used for?
The highly-valued mineral is used in many applications for its anticorrosive, conductive, and antifungal properties. The black-powdered Copper (ii) Oxide is commonly used in fireworks to increase the oxygen content in the fireworks, creating a brighter spark.
Copper oxide is a key ingredient in antifouling paints for ship bottoms as well, which prevents subaquatic organisms from attaching to the ships’ hulls.
Copper Oxide is also used in glass and porcelain and as a p-type semiconductor material in photocells for light meters.
Copper Oxide’s antifungal properties also make it an effective fungicide, suitable for protecting plants’ root systems as well as a protectant in food packing.
Where is Copper Oxide mined in Montana?
Much of the copper extracted in Montana comes from mines located in Butte. One of the main mines in Butte is the Montana Resources (Butte/Berkley/Continental).
What other goods does Montana export?
While Copper oxides and hydroxides top Montana’s list of exports, the state’s other top exports in recent years have included electrical energy, amounting to $135 million in value, Coal (excluding anthracite or bituminous), amounting to $122 million in value, and Cattle, at $113 million.
What are the major imports in Montana?
Montana’s top import in 2022 was Petroleum oils and oils from bituminous minerals, which amounted to $5.78 billion in imports.
Montana’s other major imports in recent years have included a category entitled, “Commodities not specified according to kind”, which have amounted to a $449M annual import value, and precious waste and scrap metals, which amounted to $156 million.
In 2022, Montana also imported $136 million in natural gas and $104 million in S-P-F, a lumber classification that can be traded on commodities exchanges that includes Spruce, Pine, and Fur.
Overall, in 2022, Montana imported $8.42 billion worth of products, a value significantly greater than its net exports for the same year ($1.95 billion), placing it at 39th among the nation’s 53 importers.
What is the main industry in Montana?
The main industry in Montana is agriculture, which is centered around beef and wheat production, the two top commodities in the state, with beef generally producing more cash receipts than wheat.
Total cash receipts generated by cattle and calves in Montana fluctuate annually, but 2022 figures put Montana’s annual cash receipts at $1.6 billion. Total annual cash receipts during the same year for all animal products was nearly $2 billion.
Conversely, wheat production in Montana in 2022 amounted to total annual cash receipts of $1.1 billion.
It’s clear to see the dominant role cattle and wheat play in Montana’s agriculture economy when you compare their receipts to other agricultural commodities produced in the state, such as Hay ($540,000), Barley ($198,000), and Lentils ($129,000).
Important to note: Accurately identifying Montana’s top industry depends on whether you speak in terms of the industry’s impact on GDP, employment, personal income, or job creation. The top industry is different in each category.
Find out Montana’s top industry in each category in our article, This is Montana’s main industry (no, it’s not wheat).
What are the other top industries in Montana?
Montana’s top industries, in order of prominence, are:
- Real estate
- Agriculture
- Forestry
- Mining
- Energy production
- Healthcare
- Services & tourism
Learn about the impact these industries have on Montana’s local economy, and find relevant industry statistics in our article, Montana’s top 7 industries – real estate, wheat, and….
