California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

U.S. exports grew 4.6 percent in March to $172.7 billion, surpassing the record set
in July 2008 before global trade took a sharp downturn. The March export rise was
the biggest month-to-month gain in 17 years, according to the recent monthly report
by the US Commerce Department.

Analysts and economists identified that the activity was buoyed by the weak U.S.
dollar and strengthening global demand as U.S. trade flows returned to levels last
seen before the recession.

However, despite the big gain, the U.S. trade deficit grew to $48.2 billion in March,
the widest since June 2010, as rising oil prices helped push imports nearly 5 percent
higher to $220.8 billion.

“While the news is mixed, we need to ensure that exports continue to grow,” said
Leslie Levy August, Senior Vice President of Boomerang Freight Solutions, Corporation
for International Business/ATA Carnet. “I am really hoping that the previous and
future progress related to our nation’s export reforms will help make significant
strides in export activity.”

The Golden State saw a corresponding spurt in exports, increasing $2.2 billion to
$13.9 billion for the month.  California saw $9.1 billion in manufacturing, $1.6
billion in services and 3.1 billion in re-exports.  California remains the second
largest exporting state in the nation behind Texas for the month and through the
first quarter of the year.  California imports grew by $4.8 billion to $28.8 billion
for March and a total for the first quarter of $79 billion.  California is the largest
state for imports in the nation comprising 15.5 percent for the month and through the
quarter; Texas is second at 14.2 percent.

I am Tim Johnson and this has been the California Business Minute.