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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.
Compared to a year ago, the November trade numbers in general show improved activity through the state’s ports. Both origin exports and destination imports were up in nominal terms. Although down sharply from the prior month surge, total trade activity through the state’s ports was also up (6.3%) in nominal terms compared to the prior year, producing continued improvement (on a 12-month moving average) in both the share of US trade through the state’s ports and the state’s share of total US origin exports. This improvement comes as port activity recovers from the uncertainty facing shippers during the prolonged labor negotiations, and as global trade patterns face disruption from the Panama drought and threats to ships transiting through the Suez Canal.
In nominal terms, total trade through the state’s ports year-to-date remained down from the 2022 highs, but also remained above the pre-pandemic levels in 2019.
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