Subscribe to our free, weekly email newsletter!


Another surge for California’s exports

“Our export trade is now operating at a pace not seen since the onset of the Great Recession,” said Jock O'Connell, Beacon Economics' International Trade Adviser.
By Patrick Burnson, Executive Editor
December 14, 2010

Even though California’s economic recovery remains a work in progress, Golden State exporters turned in their best performance ever for the month of October.

In inflation-adjusted terms, California’s export trade this October exceeded by 1.1 percent the previous high for that month, achieved in October 2007, according to an analysis by Beacon Economics of foreign trade data released this morning by the U.S. Commerce Department.

“Our export trade is now operating at a pace not seen since the onset of the Great Recession,” said Jock O’Connell, Beacon Economics’ International Trade Adviser.

The $12.91 billion in goods California businesses shipped abroad this October also exceeded the $11.08 billion sent to overseas markets in the same month in 2009 by a healthy 16.5 percent margin.
In an interview with LM, however, he cautioned that the state still has a long way to go before economists will offer a rosier forecast.

“Have we turned the corner?  Well, maybe,” he said. “But it’s not going to be reflected in a higher standard of living for all Californians,” he said.

The value of the state’s manufactured exports this October was up by 10.7 percent from last October, while shipments of agricultural goods and other non-manufactured products soared by 34.6 percent.  Meanwhile, re-exports of items previously imported into the state jumped by 25.2 percent.

October marked the twelfth consecutive month of year-over-year increases in California’s export trade.
California accounted for 11.0 percent of all U.S. merchandise exports in October.

“All indications are that growth in California’s exports continue to be led by airborne shipments of high-value items such as electronics components, medical and scientific instruments, perishable food items, and pharmaceuticals,” O’Connell observed. 

Airborne shipments accounted for 46.9 percent of the state’s $12.91 billion in October merchandise exports, while seaborne trade represented 30.3 percent. Overland trade with Mexico and Canada, California’s two largest trading partners, accounted for the remaining 22.8 percent of state exports.

In Southern California, the number of loaded outbound containers from the neighboring Ports of Los Angeles and Long Beach was up by 11.8 percent from last October, while Los Angeles International saw a 31.4 percent increase in air freight export tonnage.

In the San Francisco Bay Area, exported air freight tonnage through San Francisco International was up by 15.8 percent from last October, while outbound loaded container traffic across the Bay at the Port of Oakland rose by just 0.3 percent.

About the Author

image
Patrick Burnson
Executive Editor

Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Having introduced into the California State Senate a new bill designed to give an exemption from sales and use tax for port terminal operators purchasing zero or “near zero-emission” equipment, Lara is trying to advance two agendas.

The notions of “green shoots” or “cautious optimism” in gauging the current state of the economy does not specifically exhibit what is really happening, when assessing how things are actually going, it seems. That was made clear by Bob Costello, chief economist at the American Trucking Associations, at last week’s NASSTRAC (National Shippers Strategic Transportation Council) Shippers Conference and Transportation Expo in Orlando, Fla. last week.

With a 6.8 cent gain to $2.266 per gallon, this week’s average diesel price is at its highest level since the week of December 28, when it was at $2.237 per gallon.

Manufacturing activity in April remained on the right side of growth for the second straight month, following six months of contraction, according to the April edition of the Manufacturing Report on Business from the Institute for Supply Management (ISM).

Some 22 centuries after the original Silk Road smoothed the path of Chinese silk merchants to Europe, a new effort is beginning to build a new 21st century highway between Europe and the burgeoning economy of China, now the world’s fastest-growing market.

Article Topics

News · Freight · Air Freight · Container · Trade · Exports · Imports · All topics

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2016 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA