California’s export trade rebounded in November, with in-state businesses shipping merchandise valued at $15.33 billion, up 6.4 percent over the $14.41 billion recorded in November 2016.
The state figures were based on Los Angeles-based Beacon Economics’ analysis of U.S. trade statistics released by the U.S. Census Bureau.
In October, shipments abroad totaled $14.82 billion, down 2.6 percent from $15.21 billion in October the prior year.
“Generally favorable economic conditions abroad combined with a weakening dollar helped California’s exporters regain their stride after October’s stumble, said Jock O’Connell, Beacon’s international trade adviser. A weaker dollar makes U.S. goods more attractive to U.S. trade partners.
Export trade was up year-over-year in all three key sectors.
Shipments of manufactured products in November rose 5 percent to $9.36 billion compared with $8.91 billion in 2016. Exports of non-manufactured goods – chiefly agricultural products and raw materials – jumped almost 10 percent, from $2.11 billion to $2.32 billion. Re-exports rose 7.7 percent to $3.65 billion, up from $3.39 billion.
Throughout 2017, Golden State exports maintained an up-and-down pattern compared with year-ago totals. However, Beacon said state exports are running 4.7 percent ahead of 2016 through 11 months.
Calendar year 2017 totals will be reported in early February.