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.
Trade levels in general showed improvement as the California ports continued to recover some of the market share lost during the uncertainty generated during the extended labor negotiations. On a 12-month moving average basis, California’s share of total US goods trade rose for the 6th month in a row, but still remained below the pre-pandemic level and just under a quarter below the series high of 20.6%. In constant dollars, exports inched up compared to a year ago, but also were well below the pre-pandemic level. Imports, in contrast, passed the pre-pandemic mark.
California Goods Exports
Total California goods exports were down $1.1 billion from January 2023 (down 7.4%). California remained in 2nd place with 8.82% of all US goods exports (12 month moving total), behind Texas at 22.08%.
California Goods Imports
Total California destination goods imports rose $0.8 billion from January 2023 (up 2.2%).
Top 20 Exports, January 2024
Top 20 exports by value are shown below, along with the change from Jan 2023.