Web Version [link removed] | Update Preferences [link removed] [link removed] California Trade Report
for June 2020
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]].
As measured by trade with China, the June numbers show a substantial easing of the previous global supply disruptions that began with the closures in China. As shown in the table below, goods trade with China, Hong Kong, and Macau through the state’s ports in June were substantially back to their levels of a year ago following on the deep cuts in the prior two months. Overall levels, however, were near the 2016 levels and still down substantially from the previous high levels in June 2018.
Overall trade patterns have also been largely stable. As shown below, the share of US exports to China through the California ports is up slightly, but imports and total goods trade were at the 2016 levels.
Share of Goods through US Ports 17.5% CA Share of Total Trade Through US Ports
The share of total US goods trade (exports and imports) through California ports edged up to 17.48% (12 month moving average; compared to 17.43% in May 2020 and 17.94% in Jun 2019).
California moved to the #1 state, ahead of Texas with 17.45% (compared to 17.51% in May 2020 and 17.71% in Jun 2019). Trade through the Atlantic port states was at 30.33% (compared to 30.23% in May 2020 and 29.56% in Jun 2019). The state’s continued lead in this area forms the trade-related base for one of California’s largest centers of middle-class, blue-collar jobs. Transportation & Warehousing alone provided 609,600 jobs in Jun (down from 635,000 in Jun 2019), paying an average annual salary of $62.0k. This employment base in turn supports additional blue-collar and white-collar jobs in a range of other industries.
California Goods Exports Decrease -$2.3 Billions in Exports
Total California goods exports were down $2.3 billion from Jun 2019 (down 16.6%). California remained in 2nd place with 10.63% of all US goods exports (12 month moving total), behind Texas at 20.23%.
California's Balance for Goods Trade -$20.7 Billion of Goods Trade
California’s balance of goods trade activity through state businesses narrowed to -$20.7 billion, compared to a level of -$21.3 billion in Jun 2019. California trade accounted for 28% of the US trade deficit in goods in Jun 2020.
Top 20 Exports, June 2020
Top 20 exports by value are shown below, along with the change from Jun 2019.
By shipping weight (vessel and air total), the leading export was Waste & Scrap at 0.8 billion kg (33% of total exports), followed by Petroleum & Coal Products at 0.6 billion kg (23%), and Other Agricultural Products at 0.2 billion kg (8%).
Top 10 Export Markets, June 2020 Visit the center for jobs » [[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]
