California’s export trade industry continued a late-2016 rebound with a strong November, according to statistics released Friday.
Golden State businesses shipped merchandise valued at $14.41 billion in November, up 12 percent from $12.86 billion in November 2015, according to Beacon Economics, a consulting firm with offices in the Bay Area and Los Angeles. Beacon breaks out state numbers from U.S. Commerce Department and U.S. Census Bureau data.
The latest numbers were particularly impressive compared with November 2015, which had the worst November showing since 2009. In the most recent November, California easily outperformed the nation, which saw a 2.3 percent year-over-year gain, and business rival Texas, which reported a 2.6 percent increase.
“November saw double-digit increases in all of California’s major export categories except chemicals, which declined by 1.2 percent from the previous November,” said Jock O’Connell, Beacon’s international trade adviser.
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Beacon said state exports of manufactured goods in November increased by 10 percent to $8.91 billion, from $8.1 billion one year earlier. Exports of non-manufactured goods – chiefly agricultural products and raw materials – jumped 19.2 percent to $2.11 billion, from $1.77 billion. Re-exports rose 13.8 percent to $3.39 billion, from nearly $3 billion.
“California trade is closing out 2016 on a strong note,” said Robert Kleinhenz, economist and executive director at Beacon. “Despite the uncertainty about the future direction of U.S. trade policy with the incoming (Trump) administration, California’s trade picture should maintain its current course at least through the first part of the new year.”
On the import side, California took in $37.96 billion in goods in November, up 5.1 percent from $36.11 billion in November 2015. Some goods entering California go to other states, so exports are considered a more accurate measure of the state’s trade health.