Below are highlights from the recently released trade data from the US Census Bureau and US Bureau of Economic Analysis.
California Goods Exports Up Slightly
Billion Change in Exports
Total California goods exports were largely unchanged with a gain of $24 million from December 2019 (up 0.2%), as the trend towards recovery in this indicator finally turned positive. Total state exports in the period February through November were down a total of $17.6 billion (off 12%) compared to the same period in 2019. In December, California remained in 2nd place with 10.91% of all US goods exports (12 month moving total), behind Texas at 19.51%.
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 -$19.2 billion in December 2019. California trade accounted for 27% of the US trade deficit in goods in December 2020.
Top 20 Exports, December 2020
Top 20 exports by value are shown below, along with the change from December 2019.
Top 10 Export Markets, December 2020