California Business Minute™

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

If you are looking for signs of an economic recovery, international trade is
one segment of California’s economy that is illustrating a rebound.

September exports were valued at $10.35 billion, up 3.2 percent from August
but down 16.3 percent from $12.36 billion in September 2008, according to
statistics released by the University of California Center, Sacramento. The
analysis is based on data released by the U.S. Department of Commerce.

September marked the 11th straight month that exports were down significantly
from the year-ago period. It also marked the lowest export numbers for September
since 2005.

Through September 2009 California exports totaled $86.5 billion, down 22.3 percent
from $111.3 billion in the first nine months of 2008. As for imports, the center
identified that $30.9 billion in foreign goods entered the United States through
California in September, down about 20 percent from $38.7 billion in the year-ago
period. Some goods entering California are bound for other states. Consequently,
exports of California-produced goods are considered the key indicator of Golden
State trade.

Nationwide, the Commerce Department said the nation's trade deficit jumped to
$36.5 billion in September, the largest imbalance since January. Trade numbers
were up on a month-to-month basis but remained well below last year's totals.
U.S. exports in September were $132 billion, a 2.9 increase over August, but
about 20 percent below the same time last year. U.S. imports in September were
$168.4 billion. The 5.8 percent increase from August was the biggest in 16 years.
The Commerce Department said a spike in oil shipments boosted import numbers.

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