After a 16-month stretch of steady growth, California’s export trade sector faltered a bit in July.
In-state businesses shipped merchandise valued at $13.85 billion that month, down about 1 percent from $13.98 billion in July 2013, according to an analysis of Thursday’s U.S. Commerce Department figures by Beacon Economics, a consulting firm with Bay Area and Los Angeles offices.
Beacon cited a year-over-year drop-off in state exports of manufactured goods, which slipped about 4 percent to $9.03 billion in July, compared with $9.41 billion in July last year.
Even with the July dip, California merchandise exports through the first seven months of 2014 totaled $99.99 billion, 5.4 percent ahead of the same period in 2013. State shipments for all of last year totaled $168.13 billion, a record for California.
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On the import side, California took in $34.49 billion in goods in July, up nearly 3 percent from $33.56 billion in July 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.