California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

The Nation’s international trade deficit in goods and services increased to $50.2
billion in May from $43.6 billion (revised) in April, as imports increased and
exports decreased. The May deficit (in dollars) of goods and services ($50.2 billion)
was the highest since October 2008 ($59.5 billion).  However the deficit, (in percent
change) took place from December 2010 to January 2011 reaching 18.5 percent.

May exports of goods and services ($174.9 billion) were the second highest on record;
the record occurred April 2011 ($175.8 billion). May imports of goods and services
($225.1 billion) were the second highest on record; the record occurred July 2008
($231.6 billion).

In California, export activity rebounded slightly up from $12.9 billion in April to
$13.1 billion in May, but still below the year’s benchmark high of $13.9 billion in
March.  California remains the second largest state in the nation for exports through
May with $63.5 billion. 

Meanwhile, California’s import activity rose to $28.7 billion up from $26.9 in April.
California is the largest state in the nation for import activity through May. 
California remains the second largest in combined export/import activity in the nation.
Texas is first in exports and in combined export/import activity.

I am Tim Johnson and this has been the California Business Minute.