Amid increasing economic turmoil in key overseas markets, California export trade edged down only 0.7 percent in May compared with the same month in 2014, according to an analysis of U.S. Commerce Department figures.
In-state businesses shipped merchandise valued at $14.13 billion in May, down from $14.23 billion in May last year, according to Tuesday’s report by Beacon Economics, a consulting firm with offices in the Bay Area and Los Angeles.
Exports of manufactured goods in May rose slightly, from $9.2 billion last year to $9.23 billion this year. However, exports of non-manufactured goods – chiefly agricultural produce and raw materials – declined by 5.5 percent, from $1.91 billion to $1.81 billion.
By comparison, U.S. exports of goods saw a 7.2 percent decline in the same period.
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California imported $33.46 billion in goods in May, down nearly 1 percent from $33.75 billion in May last year. Because some goods entering California ports and airports go to other states, exports are considered a more accurate measure of the state’s trade health.