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.
Overall trade levels were off compared to September 2022, although California’s total share of trade through US ports saw a pause in its decline (on a 12-month moving basis) for the first time since March 2021. In nominal terms, origin exports edged down 3.3% from last September, destination imports were off 4.3%, and total trade through the state’s ports were only marginally lower at 0.7%. Compared to the pre-pandemic levels, however, all activity levels were higher.
In real terms, total trade continues to lag the pre-pandemic numbers. Cumulatively through September, the 2023 performance is 4.7% lower than the same period in 2019, reflecting the shift of some traffic away from the California ports during the recent labor negotiations.