California exports continue sharp uptick

California exports continue sharp uptick

Exports through California ports continued their recent rebound in January, according to an analysis of new federal data by University of California trade analyst Jock O’Connell.

The value of exports through the state, $10.3 billion, was an 18.5 percent increase over the previous January and the third month of year-over-year increases. It was nearly identical to the nationwide increase in exports.

.”Even so, we are now just getting back to the level of exporting we were at in early 2007, before the global financial and economic crisis sent international trade spiraling down,” O’Connell said..

O’Connell said he anticipated continued export increases “if only because the economies of most of our major trading partners continue to expand,” but added, “The most worrisome prospect involves the risk of fall-out from the financial turmoil now gripping the European Union and especially those countries in the euro zone.

Imports through California also showed a sharp increase, up 14.6 over the previous January to $23 billion.


14 Responses to “California exports continue sharp uptick”

  1. 1 Christopher Henderson (101) March 14, 2010 at 5:15 PM

    Well, as we’ve learned, trade is good. So this must be good news. Right? But I wonder how much these figures actually mean. I mean, a year ago the economy was definitely in a worse situation, so wouldn’t that make these figures seem a little more extreme than they really are (compared to before the recession)? The article said we are just nearing where we were in 2007. What was the national import/export rate at? And California isn’t the only one in danger of fallout from the EU’s trouble right? So we can expect to see some changes to the national rates as well. Interesting figures.

  2. 2 Jennifer DaRosa March 14, 2010 at 11:09 PM

    This sounds very promising. Increasing our exporting will help our economy greatly. I feel that if our trade continues to increasethis will help us rebound from the recession much quicker. But at the same time our imprts are also up. if exports do not continue to increase and our imprts still do this could become an issue and cause us more debt.

  3. 3 Ryan Haley March 16, 2010 at 9:01 AM

    This is an interesting article I would be interested in seeing which country contributed to those export gains in California. I mean the euro is in trouble but it may not be that bad for us depending on which countries on importing from us. For example if it were Japan that increased their importing them use the yen which we know isn’t suffering the same fate as the Euro. If they really expect a great increase in the exporting of California doesn’t that mean more jobs will be created in this industry?

  4. 4 kathryn koller March 16, 2010 at 10:58 AM

    I’m excited to see high numbers for exports and high numbers for imports in California! trade is one of the best things we can do for ourselves right now. we have the products, and by producing more we can create more jobs. it also establishes good connections abroad. The only bummer is the financial issues our European traders might be running into, like O’Connell was pointing out…that would be depressing to try and regain numbers if we lost that trade

  5. 5 mike March 25, 2010 at 9:50 AM

    This is great news for California. The port of Oakland has been markedly busier in the past few months. I wish we had information to see what is happening in Europe as they seem to follow what happens here. Is most of our international trade going towards Asia or Europe? I know from family connections the trade seems to not have effected business with Japan. This uptick has been just recent, so I would assume that European countries will follow within the next few years.

  6. 6 Anthony Azevedo April 11, 2010 at 1:03 PM

    This is great news for California shipping ports but it means the value of the dollar has decreased. Other currency are able to buy more of our good as long as their currency is higher than ours. If our currency falls even more, then more people will have job because factories would start opening up in the USA, cause there a profit to be had here.

  7. 7 Hannah Mac Dula April 22, 2010 at 4:24 PM

    Like Ryan, I too would be interested to know which country contributed to the export gains of California. This is exciting news to hear! I also wonder which products the people want more of from California. It would be really great to see this trend continue. I hope our European friends will be okay as well. I’m glad that people out of the country are buying our things. Whenever talking about exports and imports in economy I always think about the global community and how countries will need to work together in order to make the best of the recession.

  8. 8 Karla Martinez May 1, 2010 at 1:37 PM

    An increase in exports means that production levels must be going up, which in turn signify a possible source of employment for the millions in need of a job. This sounds like a good start to rebuilding the economy, although the good news may not last long if the EU falls, which would negatively affect the US and get us back to the same place we were before. If this were to happen then the US would be forced to rely more on its trading agreement with North and South America.

  9. 9 Jessica Opperman May 3, 2010 at 8:37 PM

    That is good news that exports are increasing. Trade is a good thing an helps the economy in many ways. So hopefully the news of an increase in exports is hope for an improving economy. With an increase of exports means production of products being traded and increase in jobs. Lets hope this is a start to the economy coming back.

  10. 10 Joey V May 16, 2010 at 2:57 AM

    I think this increase is good for us. The more exports we ahve mean the bigger our GDP increases. Plus the way we ae getting out into the trdig market is good for us, it shows how productive we can be and still be included even if weare in a major recession. Trade helps with jobs and everyhting else so its good to see that The US is an up nd comer. A few positives here and there will definitely add up and be a very good thing for us.

  11. 11 Erik Rasmussen May 17, 2010 at 11:27 PM

    It’s great to hear that exports coming out of California have increased 18.5% since the previous January and are nearly identical to the nationwide increase in exports. If both are rising at good and steady rates, over time, these increases can be just another contribution at getting us out of debt and closer to financial stability. It is almost back to the level it was before this economic and financial crisis hit. O’Connell says that he anticipates this to continue only if out trading partners continue to expand as well. But now with the fallout of the European Union, this can definitely alter our numbers in a bad way.

  12. 12 Trella Chrisco May 18, 2010 at 6:50 AM

    Trading has its ups and downs just like everything else. i agree with the previous comments. exporting is sure to raise the growth of the economy and hopefully bring us out of the resseion slowly and gradually.

  13. 13 Kyle Barraclough May 18, 2010 at 2:14 PM

    Our countries economy should greatly benefit from this sharp increase in exports. I believe our recovery from this recession can be greatly aided with the continued increase in trade, more importantly exports. If exports do not continue to rise with our import rates it will just propose a new issue for the economy and drive the US into more debt.

  14. 14 Ji Young Yoo (Macro) May 18, 2010 at 9:35 PM

    Imports of $23 billion and Exports of $10.3 billion. That means we still have a trade deficit of about $13 billion. As the article mentioned the prospect involving the risk of European crises, I wonder how the recent weakening of Euro and growing USD affect the value of future exports in California. Stronger dollar means our goods will become more expensive for foreign buyers and losing European market means we now have even a smaller market for trade. Will our recession discourage the future volume import or are the weakened foreign currencies encouraging us to import more? The article didn’t specify, but I wonder what the major trading partners of California are.

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