Below are highlights from the recently released trade data from the US Census Bureau and US Bureau of Economic Analysis. The data reflects the annual revision process extending back to 2016.
California Goods Exports
Billion Change In Exports
Total California goods exports were up $4.8 billion from April 2020 (up 46.4%). The 2020 numbers, however, reflect the sharp drops in world trade at the beginning of the pandemic period. Using April 2019 as a more “normal” year base, exports were up 7.7%, or about 1.7% annually in real terms.
California remained in 2nd place with 10.82% of all US goods exports (12-month moving total), behind Texas at 19.37%.
California's Balance for Goods Trade
Billion Of Goods Trade
California’s balance of goods trade activity through state businesses broadened to -$22.4 billion, compared to a level of -$16.2 billion in April 2020. California trade accounted for 27% of the US trade deficit in goods.
Top 20 Exports, April 2021
Top 20 exports by value are shown below, along with the change from April 2020.
The significant decline in international trade during the height of the pandemic has created skewed percentages of year-over-year trade trends. This information will be included again when the data normalizes.
Top 10 Export Markets, April 2021