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.
As measured by trade with China, the June numbers show a substantial easing of the previous global supply disruptions that began with the closures in China. As shown in the table below, goods trade with China, Hong Kong, and Macau through the state’s ports in June were substantially back to their levels of a year ago following on the deep cuts in the prior two months. Overall levels, however, were near the 2016 levels and still down substantially from the previous high levels in June 2018.
Overall trade patterns have also been largely stable. As shown below, the share of US exports to China through the California ports is up slightly, but imports and total goods trade were at the 2016 levels.
California Goods Exports Decrease
Total California goods exports were down $2.3 billion from Jun 2019 (down 16.6%). California remained in 2nd place with 10.63% of all US goods exports (12 month moving total), behind Texas at 20.23%.
California's Balance for Goods Trade
California’s balance of goods trade activity through state businesses narrowed to -$20.7 billion, compared to a level of -$21.3 billion in Jun 2019. California trade accounted for 28% of the US trade deficit in goods in Jun 2020.
Top 20 Exports, June 2020
Top 20 exports by value are shown below, along with the change from Jun 2019.
By shipping weight (vessel and air total), the leading export was Waste & Scrap at 0.8 billion kg (33% of total exports), followed by Petroleum & Coal Products at 0.6 billion kg (23%), and Other Agricultural Products at 0.2 billion kg (8%).