Web Version [link removed] | Update Preferences [link removed] [link removed] California Trade Report
for August 2024
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.
Strong Results for California
The August trade data again showed strong results for California and its ports as shippers continued to surge activity ahead of pending tariffs and the then-threatened East/Gulf labor actions. Origin exports rose 9.9% in nominal terms compared to prior year. Total trade activity through the state's ports was up 13.6%, with the strongest gains in imports.
The August results kept California on track to match the 2023 results in nominal terms, and close to matching in real rerms. The constant doallar terms, however, show the state slightly lagging the pre-pandemic and pandemic era peaks.
Share of Goods Through US Ports 16.2% CA Share of Total Trade
Through US Ports
The share of total US goods trade (exports and imports) through California ports continued edging up to 16.22% (12 month moving average; compared to 16.11% in July 2024 and 15.32% in August 2023).
California remained the #2 state, behind Texas which had a 20.09% share (compared to 20.10% in July 2024 and 20.1% in August 2023). Trade through the Atlantic port states was at 29.36% (compared to 29.5% in July 2024 and 30.1% in August 2023). These trade flows form the trade-related base for one of California’s largest centers of middle-class, blue-collar jobs. Transportation & Warehousing alone provided 755,300 jobs in August 2024, compared to 756,300 in August 2023.
California Goods Exports $1.5 Billion Change
in Exports
Total California origin goods exports rose $1.5 billion from August 2023 (up 9.9%). California remained in 2nd place with 8.78% of all US goods exports (12 month moving total), behind Texas at 22.23%.
California Goods Imports $3.8 Billion Change in Imports
Total California destination goods imports grew $3.8 billion from August 2023 (up 9.7%).
Top 20 Exports, August 2024
Top 20 exports by value are shown below, along with the change from August 2023.
Top 10 Export Markets, August 2024 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]
