California exports surge to $15.35 billion in October


By Mark Glover
mglover@sacbee.com
Published: Wednesday, Dec. 4, 2013 - 10:09 am


California businesses shipped merchandise valued at $15.35 billion in October, up a robust 10.7 percent from $13.87 billion in October 2012, according to an analysis of Wednesday’sU.S. Commerce Department figures by Beacon Economics, a consulting firm with offices in theBay Area and Los Angeles.

Exports totaled $13.78 billion in September this year.

Beacon said California’s surge was led by a solid $727 million increase in manufactured exports, which rose nearly 8.2 percent to $9.66 billion from $8.93 billion in October 2012.

Meanwhile, exports of non-manufactured goods (chiefly agricultural produce and raw materials) totaled $2.35 billion, up $376 million, or about 19 percent, from $1.98 billion a year ago. Re-exports were up by $379 million, from $2.96 billion last year to $3.34 billion this year, an increase of 12.8 percent.

After a sluggish start, California’s year-to-date total of $138.31 billion in merchandise export trade is running ahead of the $135.01 billion recorded in first 10 months of 2012.

On the import side, California took in $35.57 billion in October, up 3.6 percent from $34.34 billion in October last year. Some goods entering California go to other states, so exports are considered a more accurate measure of the state’s trade health.

Nationally, the Commerce Department said U.S. exports hit an all-time high in October, which helped pare the nation’s trade deficit to $40.6 billion, down about 5.5 percent from $43 billion in September.

Exports of goods and services rose 1.8 percent to a record $192.7 billion, boosted by a 6 percent monthly gain in petroleum exports. Imports rose 0.4 percent to $233.3 billion, the highest since March 2012.

Analysts noted that the nation is lessening its dependence on foreign oil. U.S. petroleum exports are up 9.3 percent in the first 10 months of this year, compared with the same period in 2012.

Over the same period, petroleum imports are down 11.1 percent.

See more details in Thursday’s edition of The Sacramento Bee and at Sacbee.com.
Call The Bee’s Mark Glover, (916) 321-1184.

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