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.

Trade flows in the first two months of 2025 were heavily affected by two factors:  accelerated inventory shipments in an effort to stay ahead of the recently imposed tariffs and the annual shifts due to the Chinese New Year holiday in China, which this year straddled both January and February. Total trade through the state’s ports in the first two months was up 14.9% from the same period in 2024 in nominal terms, and up 12.7% in real terms.  Both measures represent a new high in trade activity.

With imposition of the new tariffs, concerns over the effect on prices also remain high. Rapid upswings in import prices during the pandemic due to shortages and supply chain congestion contributed heavily to the rise of inflation during this period. However, trade good prices have already been rising. After a period of relative price stability (as measured by the indices for all commodities), both import and export prices began rising again last September. Import prices in this period rose at an annualized rate of 7.3%.  Export prices rose somewhat faster.

Top 20 exports by value are shown below, along with the change from February 2024.