Web Version [link removed] | Update Preferences [link removed] [link removed] California Trade Report
for May 2023
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 [[link removed]].
The May data once again showed continued slowing in trade activity for the state. While the May numbers show improvements on a monthly basis from April, total trade through the state’s ports was down $6.5 billion compared to May 2022. Compared to pre-pandemic levels in May 2019, origin exports were off 11.4% in real terms, and destination imports down 4.7% in real terms.
Share of Goods Through US Ports 15.5% CA Share of Total Trade
Through US Ports
The share of total US goods trade (exports and imports) through California ports continued its decline to 15.48% (12 month moving average; compared to 15.51% in April 2023 and 16.61% in May 2022).
California remained the #2 state, behind Texas with 20.10% (compared to 20.11% in April 2023 and 18.90% in May 2022). Trade through the Atlantic port states was at 29.84% (compared to 29.80% in April 2023 and 29.78% in May 2022). The state’s position in this area forms the trade-related base for one of California’s largest centers of middle-class, blue-collar jobs. Transportation & Warehousing provided 794,200 wage and salary jobs in the most recent data for May, up from 773,200 in May 2022.
California Goods Exports -$1.4 Billion Change
in Exports
Total California goods exports were down $1.4 billion from May 2022 (down 8.3%). California remained in 2nd place with 8.8% of all US goods exports (12 month moving total), behind Texas at 22.8%.
California Goods Imports -$6.4 Billion Change
in Imports
Total California destination goods imports dropped $6.4 billion from May 2022 (down 14.5%).
Top 20 Exports, May 2023
Top 20 exports by value are shown below, along with the change from May 2022.
Top 10 Export Markets, May 2023 View Report Online [[link removed]] The California Center for Jobs and the Economy provides an objective and definitive source of information pertaining to job creation and economic trends in California. [[link removed]] Contact 1301 I Street Sacramento, CA 95814 916.553.4093 If you no longer wish to receive these emails, select here to unsubscribe. [link removed]
