Subscribe to our free, weekly email newsletter!


California exports continue brisk growth

“On an inflation-adjusted basis, California’s export trade this February exactly matched the value of our exports in February 2008, before the global economy began its precipitous slide into an abysmal recession,” said Jock O’Connell, Beacon Economics’ International Trade Adviser.
By Patrick Burnson, Executive Editor
April 12, 2011

California exporters recorded their 16th consecutive month of healthy year-over-year gains in February with shipments totaling $11.76 billion, a 13.4 percent increase over the same month last year, according to an analysis by Beacon Economics of foreign trade data released by the U.S. Commerce Department.

Manufactured exports were up 9.4 percent, while non-manufactured exports (chiefly raw materials and agricultural products) rose by 10.6 percent. Re-exports were meanwhile up by 30.8 percent.

“On an inflation-adjusted basis, California’s export trade this February exactly matched the value of our exports in February 2008, before the global economy began its precipitous slide into an abysmal recession,” said Jock O’Connell, Beacon Economics’ International Trade Adviser.

“Growing exports will continue to be an important part of the recovery in the nation and in California,” added Beacon Economics Founding Partner Christopher Thornberg. “The solid employment numbers coming out of San Jose and San Diego can be directly traced to growing technology exports.”

Unlike the United States as a whole, which saw merchandise exports decline 2.3 percent from January to February, California’s exports of goods this February topped the previous month’s total by $17 million.

“Export figures should really be viewed as lagging economic indicators in the sense that cargos departing today are the result of foreign orders for California goods that were placed weeks or even months ago,” O’Connell advised.

“Interpreting February’s numbers does not require a crystal ball but rather a review of news reports from last fall to see what was happening then that might have been informing business expectations about the future,” O’Connell explained.

In an interview with LM, O’Connell noted that On the plus side for California exporters, the dollar has fallen 6 percent so far this year against a weighted basket of currencies from America’s major trading partners.

“Most forecasts call for the dollar to move even lower as the year through this year,” he said.

For related articles click here.

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

The Port of Oakland said that containerized import volume soared 75.76 percent last month from January 2015 totals.

The U.S. Customs & Border Protection announced earlier this week that it will delay the implementation of some parts of its Automated Commercial Environment (ACE) electronic document single window platform beyond the current February 28th deadline.

In the new white paper "The Race for Supply Chain Management Excellence," Howard W. Coleman of the management consulting firm MCA Associate explores this question with a focus on wholesale distribution.

As the pull of shopping online via mobile devices becomes ever more prevalent, recent research from transportation and logistics bellwether UPS shows that as more consumers shop online, they also bring with them specific preferences and guidelines, too.

In an 8-K filing with the Securities Exchange Commission this week, third-party logistics and freight transportation services provider XPO Logistics said it plans to retain the truckload business it acquired through its $3 billion October 2015 acquisition of freight transportation and logistics services provider Con-way Inc.

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