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01-13-2012, 04:16 PM #1
California exports continue steady growth
California exports continue steady growth
By Mark Glover
mglover@sacbee.com
The Sacramento Bee
Last modified: 2012-01-13T19:23:04Z
Published: Friday, Jan. 13, 2012 - 10:49 am
Last Modified: Friday, Jan. 13, 2012 - 11:23 am
California export trade is maintaining momentum that's likely the envy of economists nationwide.
The value of merchandise that California merchants shipped abroad in November totaled $14.07 billion, up 12.7 percent from $12.49 billion in November last year, according to an analysis of today's U.S. Commerce Department trade figures by Beacon Economics, a consulting firm with offices in the Bay Area and Los Angeles.
It was the 25th straight month of year-over-year growth.
October exports totaled $13.81 billion.
Goods imported by California in November had a value of $32.16 billion, up 7.5 percent from $29.9 billion in November 2010. Some goods entering California go to other states, so exports are considered a more accurate measure of the state's trade health.
Nationally, the U.S. trade deficit had a monthly spike of more than 10 percent to $47.8 billion, a byproduct of an increase in the price imported oil.
U.S. exports of goods and services edged down 0.9 percent from October to November to $177.8 billion. U.S. imports rose 1.3 percent to a record $225.6 billion.
Analysts noted that the price of oil, which had been trading as low as $75 a barrel in October, rose above $100 per barrel in November.
California exports continue steady growth - Sacramento Business, Housing Market News | Sacramento BeeNO AMNESTY
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