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.
The May data shows deeper effects stemming from the 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 was down 10.8% from the year earlier, a marked improvement from the March slide of 34.0% but showing erosion from the April numbers. May exports to this area were little changed from April, but imports were down substantially—an indication of lowered consumer spending along with continued global supply chain disruptions as Chinese production struggles to revive first in the face of the previous closures and second as they deal with a continuing wave of canceled orders.
|Trade through California Ports ($ billion):
China, Hong Kong, Macau
|May 2019||May 2020||Change|
|Total Trade Activity||$21.4||$19.1||-10.8%|