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California’s Export Trade Continues to Rebound
California’s export trade continued to rebound in June, according to Beacon Economics’ analysis of the latest U.S. trade statistics recently released by the Census Bureau’s Foreign Trade Division. California businesses shipped a total of $14.967 billion in merchandise abroad this past June, with shipments of manufactured products by California firms valued at $9.463 billion.
Exports of non-manufactured goods (chiefly the state’s agricultural products and raw materials) were worth $2.126 billion, while re-exports of previously imported goods totaled $3.378 billion for the month. Year-to-date, the state’s exports amounted to $86.152 billion. Beacon Economics cautions against making the customary year-over-year comparison with export figures from the same month one year earlier.
“The COVID-19 pandemic made June 2020 the worst June for exports since the Great Recession,” said Jock O’Connell, Beacon Economics’ international trade adviser. “Comparisons between now and then would be flattering but otherwise useless.”
The good news is that California’s nominal export trade this June was 7 percent higher than the $13.989 billion in shipments recorded in the last healthy June, in pre-pandemic 2019.
- ◦Economy



