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 trade numbers in general showed positive news for California. Both origin exports and destination imports were up compared to May 2023. In nominal dollars, total trade through the state’s ports rose in this period, and the share of total US trade, while remaining well below previous highs, continued edging up.
In nominal terms, total trade through the state’s ports in the first 5 months rose 7.9% over the year and 14.8% over pre-pandemic 2019, but still came in marginally lower than 2022.
In real terms, the first 5 months were 8.2% higher than in 2023 but only 1.6% than the same period in 2019.
California Goods Exports
Total California origin goods exports were up $0.7 billion from May 2023 (up 4.7%). California remained in 2nd place with 8.75% of all US goods exports (12 month moving total), behind Texas at 22.3%.
California Goods Imports
Total California destination goods imports rose $2.6 billion from May 2023 (up 6.9%).
Top 20 Exports, May 2024
Top 20 exports by value are shown below, along with the change from May 2023.