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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.
In nominal terms, California origin exports exceeded the pre-pandemic 2019 levels for the 4th month in a row. In real terms, however, the numbers continue to show a decline.
Import activity through the state’s ports remained high as companies rebuild inventories and as shipments adjust to the Lunar New Year holiday period production shutdowns. Measured by value, imports through the ports were up 21.6% compared to the pre-pandemic period in December 2019, the 5th month in a row for double-digit gains. Congestion within the ports and subsequent blockages in other parts of the supply chain, however, remain a constraint on goods movement potential. Measured in TEUs (twenty-foot equivalent unit), loaded import container activity in the Ports of Los Angeles and Long Beach compared to the same month in 2019 actually dropped for the 4th month in a row, with December down 14.2%.
Port congestion remains high, although down from the peak backup of 109 container vessels recorded for the Ports of Los Angeles and Long Beach on January 9. On October 20, 2021 when the state issued its measures to tackle the ongoing supply chain issues, the backup was at 71 container ships and 108 total ships at anchor or loitering off the ports. In the latest numbers for February 4, the total container ship backup was 89. As indicated in the screen shot below, current vessel management measures have disbursed the backup more widely, with many loitering or slow speed steaming off Mexico due
to safer weather conditions but in the process also shifting air quality issues further south.
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