Below are highlights from the recently released trade data from the US Census Bureau and US Bureau of Economic Analysis, which incorporates revisions to the monthly data beginning in 2015. To view additional data and analysis related to the California economy visit our website at www.centerforjobs.org/ca.
The April data continues to reflect the downturn in the economy stemming from the global supply disruptions that began with the closures in China, but now reflecting a gradual resumption of trade activity. As shown in the table below, goods trade with China, Hong Kong, and Macau through the state’s ports was down 10.3% from the year earlier, a marked improvement from the March slide of 34.0%, but with imports still showing depressed levels.
|Trade through California Ports ($ billion):
China, Hong Kong, Macau
|Apr 2019||Apr 2020||Change|
|Total Trade Activity||$18.6||$16.7||-10.3%|
California Goods Exports Decrease
Total California goods exports were down $3.7 billion from Apr 2019 (down 26.5%). California remained in 2nd place with 10.52% of all US goods exports (12 month moving total), behind Texas at 20.38%.
California's Balance for Goods Trade
California’s balance of goods trade activity through state businesses narrowed to -$16.2 billion, compared to a level of -$18.5 billion in Apr 2019. California trade accounted for 23% of the US trade deficit in goods in Apr 2020.
Top 20 Exports, April 2020
Top 20 exports by value are shown below, along with the change from Apr 2019.
By shipping weight (vessel and air total), the leading export was Petroleum & Coal Products at 1.2 billion kg (34% of total exports), followed by Waste & Scrap at 0.9 billion kg (27%), and Other Agricultural Products at 0.2 billion kg (6%).
|Commodity||Apr 2020 Exports ($b.)||Change from Apr 2019|
|Semiconductors & Other Electronic Components||$0.9||6.9%|
|Fruits & Tree Nuts||0.7||-11.6%|
|Aerospace Products & Parts||0.6||-12.8%|
|Pharmaceuticals & Medicines||0.6||20.8%|
|Waste & Scrap||0.3||-6.1%|
|Medical Equipment & Supplies||0.3||-33.8%|
|Petroleum & Coal Products||0.3||-40.7%|
|Electrical Equipment & Components, Nesoi||0.2||-31.2%|
|Other General Purpose Machinery||0.2||-6.4%|
|Commercial & Service Industry Machinery||0.2||-1.9%|
|Other Fabricated Metal Products||0.2||-24.5%|
|Miscellaneous Manufactured Commodities||0.2||-80.8%|
Top 10 Export Markets, April 2020
|Country||Apr 2020 Exports ($b)||Change from Apr 2019|