After a stumbling a bit in July, California’s export trade sector regained its footing in August.
In-state businesses shipped merchandise valued at $14.55 billion in August, up nearly 2.5 percent from $14.21 billion in August 2013, according to an analysis of Friday’s U.S. Commerce Department figures by Beacon Economics, a consulting firm with Bay Area and Los Angeles offices.
Golden State exports totaled $13.85 billion in July this year, down about 1 percent from $13.98 billion in July 2013, breaking a 16-month streak of year-over-year improvements.
State exports of manufactured goods led the way in August this year, increasing 2.7 percent year-over-year to $9.6 billion. Beacon said shipments of communications equipment surged.
Through eight months, California export trade is running nearly 5 percent ahead of the same period last year. In 2013, state shipments totaled $168.13 billion, a record for California.
On the import side, California took in $34.21 billion in goods in August, up 6.2 percent from $32.2 billion in August 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.