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.

Total trade through the state’s ports was up $2.2 billion (3.3%) in March compared to the same period a year ago, generating yet another rise (on a 12-month moving basis) in the state’s overall share of US trade to 15.75% compared to the low of 15.32% last August.  The share of total trade flows handled by California ports and businesses, however, remains well below the series peak of 20.55% reached in January 2004.

On a nominal basis, total trade through the California ports in the first quarter was 7.1% higher than the total for the same period in 2023 and 12.8% higher than in pre-pandemic 2019.

In real terms (January 2019 dollars), trade flows were still above the prior year but essentially unchanged from first quarter 2019, indicating at least from this metric that trade flows have reached a recovery level.

Trade volumes associated with in-state production and final goods demand, however, were both down.  State origin exports were down 5.3% from March 2023, and destination imports were off 2.4%.

Top 20 exports by value are shown below, along with the change from March 2023.