CALIFORNIA BUSINESS MINUTE
International Trade
04-12-11
Hi, I am Tim Johnson and welcome to the California Business Minute.
The nation's trade gap narrowed moderately in February, as imports decreased more
than exports. The total February exports of $165.1 billion and imports of $210.9
billion resulted in a goods and services deficit of $45.8 billion, down from $47.0
billion (revised) in January. February exports were $2.4 billion less than January
exports of $167.5 billion. February imports were $3.6 billion less than January
imports of $214.5 billion.
In February, the goods deficit decreased $1.0 billion from January to $59.3 billion,
and the services surplus increased $0.3 billion to $13.6 billion. Exports of goods
decreased $2.5 billion to $118.0 billion, and imports of goods decreased $3.4 billion
to $177.3 billion. Exports of services were virtually unchanged at $47.2 billion, and
imports of services decreased $0.2 billion to $33.6 billion.
“We are heartened to see the trade numbers are remaining steady that trade is flowing,
specifically exports the right way.” International trade is good for both the US and
California worker by creating jobs domestically,” said, Michael Faust, President/CEO
of the Northern California World Trade Council.
California trade deficit narrowed for the month. California’s exports remained steady
at just over $11.7 billion for February which $7.5 billion were in manufactured goods,
$1.5 billion were for non-manufactured goods and nearly $2.7 billion were re-exports.
Imports into the state were $24.3 billion down from $25.7 billion in January.
Manufactured products accounted for $20.8 billion in manufactured goods and just over
$3.5 billion in non-manufactured goods.
“It is exciting to see continued increase in the export numbers,” said Bruce Coleman,
Economic Development Director with the City of Murrieta who oversees the City’s
International Trade program. “A strong export market is critical to California to be
a major export driven economy.”
I am Tim Johnson and this has been the California Business Minute.
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