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CALIFORNIA BUSINESS MINUTE
International Trade
07-13-10
Hi, I am Tim Johnson and welcome to the California Business Minute
Nationally, while imports and exports grew for the month of May, the U.S. trade deficit
widen to it largest level in 18 months to $42.3 billion up from $40.3 billion according
to the figures from the US Dept. of Commerce. Meanwhile, California witnessed similar
growth but show a reduction in the difference between imports and exports.
Exports from California were $11.9 billion for May, up from April’s $11.4 billion but
still below March’s $12.2 billion. The state’s exports total $44.2 billion since the
first of the year, second only to Texas.
The Golden State accounted for exporting 10 percent of the nation’s manufactured
commodities at $8 billion, up from April and remaining second only to Texas at 16.5
percent. And export shipments of non durable agricultural goods and other
non-manufactured products increased for the month up from last month’s $1.35 billion
to $1.38 but slightly below $1.43 billion in March. However, the Golden State
remained the largest exporting state in this category at 12.3 percent.
LARGEST EXPORTING STATES THROUGH MAY 2010
1. Texas $80 billion
2. California $56 billion
3. New York $26.2 billion
4. Florida $21.7 billion
5. Illinois $19.5 billion
6. Michigan $18.4 billion
7. Ohio $16.6 billion
8. Louisiana $15.6 billion
9. Pennsylvania $14 billion
10. Indiana $10 billion
While the nation’s import trade grew for May, California’s import trade actually fell
over the month, decreasing to $23.7 billion from $25.9 billion in April, thus,
California’s trade balance dropped by $2.7 billion. The state’s imports total $123
billion since the first of the year,
California remains a very close second to Texas in combined import/exports totaling
over $179 billion since the first of the year.
I am Tim Johnson and this has been the California Business Minute.
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