Sacramento, Calif., (February 9, 2017) – California’s merchandise export trade concluded 2016 with an exceptionally strong showing in December, posting a nominal 9.3 percent gain over the same month in 2015.
According to a Beacon Economics analysis of U.S. trade statistics released by the U.S. Census Bureau, foreign shipments by California businesses totaled $14.04 billion for the month, a robust increase over the $12.85 billion recorded in December 2015. For the year, the state’s exports totaled $163.62 billion compared to $165.37 billion recorded one year earlier.
“After a sluggish start to the year, export numbers picked up in the spring and, despite a strong dollar, finished the year briskly,” said Jock O’Connell, Beacon Economics’ International Trade Advisor.
The state’s exports of manufactured goods in December increased by 8.6 percent to $9.05 billion from $8.33 billion one year earlier. Exports of non-manufactured goods (chiefly agricultural products and raw materials) jumped 14.1 percent, to $1.70 billion from $1.49 billion. Re-exports, meanwhile, rose 9.3 percent to $3.29 billion from $3.01 billion.
For the year as a whole, the state’s manufactured export trade amounted to $103.41 billion, 2.9 percent shy of the previous year’s $106.50 billion. Non-manufactured shipments totaled $19.79 billion, off one percent from $19.99 billion one year prior. Re-exports hit $40.42 billion exceeding last year’s total of $38.88 billion by a four percent margin.
“If you consider that the value of the dollar was at its highest in over a dozen years in 2016, it shouldn’t be surprising that California’s exports last year fell short of 2015,” said Robert Kleinhenz, Economist and Executive Director at Beacon Economics.
Note – The latest comprehensive Ag export data for California (for 2015) are available here.