Below are highlights from the recently released trade data from the US Census Bureau and US Bureau of Economic Analysis. To view additional data and analysis related to the California economy visit our website at www.centerforjobs.org/ca.
Strong Results for California
The August trade data again showed strong results for California and its ports as shippers continued to surge activity ahead of pending tariffs and the then-threatened East/Gulf labor actions. Origin exports rose 9.9% in nominal terms compared to prior year. Total trade activity through the state’s ports was up 13.6%, with the strongest gains in imports.
The August results kept California on track to match the 2023 results in nominal terms, and close to matching in real rerms. The constant doallar terms, however, show the state slightly lagging the pre-pandemic and pandemic era peaks.
California Goods Exports
Total California origin goods exports rose $1.5 billion from August 2023 (up 9.9%). California remained in 2nd place with 8.78% of all US goods exports (12 month moving total), behind Texas at 22.23%.
California Goods Imports
Total California destination goods imports grew $3.8 billion from August 2023 (up 9.7%).
Top 20 Exports, August 2024
Top 20 exports by value are shown below, along with the change from August 2023