Web Version [link removed] | Update Preferences [link removed] [link removed] California Trade Report

for June 2023

Below are highlights from the recently released trade data from the US Census Bureau and US Bureau of Economic Analysis. To view additional data and analysis related to the California economy visit our website at [[link removed]].

The June trade numbers for California continued to show lower activity. Total trade through the state’s ports was down 12.1% from June 2022 in nominal terms, while origin exports were off 4.8% and destination imports dropped 18.6%.

Year to date, overall trade activity has trended lower. Considered in real terms, trade through the state’s ports in the first six months has remained below pre-pandemic 2019 in all but March. Due to the current deflationary trend in both export and import prices, the gap narrows somewhat when comparing the 2022 data in constant dollars, but a clear decline is evident due to prolonged uncertainty stemming from the labor situation combined with increasing costs from state and regional regulations.

Share of Goods Through US Ports 15.4% CA Share of Total Trade

Through US Ports

The share of total US goods trade (exports and imports) through California ports continued dropping to 15.43% (12 month moving average; compared to 15.48% in May 2023 and 16.58% in June 2022).

California remained the #2 state, behind Texas with 20.10% (compared to 20.10% in May 2023 and 19.05% in June 2022). Trade through the Atlantic port states was at 29.92% (compared to 29.84% in May 2023 and 29.71% in June 2022).

While continuing to fall behind Texas, the state’s position in this area forms the trade-related base for one of California’s largest centers of middle-class, blue-collar jobs. Transportation & Warehousing alone provided 792,700 in June 2023, up from 770,300 in June 2022.

California Goods Exports -$0.8 Billion Change

in Exports

Total California goods exports were down $0.8 billion from June 2022 (down 4.8%). California remained in 2nd place with 8.84% of all US goods exports (12 month moving total), behind Texas at 22.53%.

California Goods Imports -$8.5 Billion Change

in Imports

Total California destination goods imports dropped $8.5 billion from June 2022 (down 18.6%).

Top 20 Exports, June 2023

Top 20 exports by value are shown below, along with the change from June 2022.

Top 10 Export Markets, June 2023 View Report Online [[link removed]] The California Center for Jobs and the Economy provides an objective and definitive source of information pertaining to job creation and economic trends in California. [[link removed]] Contact 1301 I Street Sacramento, CA 95814 916.553.4093 If you no longer wish to receive these emails, select here to unsubscribe. [link removed]