April 5, 2010

California’s Exports moving up

Could exports lead California out of the recession?  There is at least a glimmer of hope in a an analysis of federal trade data by the University of California Center Sacramento.  According to a report in the Los Angeles Times, The $10.3 billion in goods shipped abroad in January represented a 18.5% increase over the $8.7 billion recorded during the same month last year. The products shipped by land, sea and air included high-end, top-value items such as civilian aircraft engines and parts. They also included low-value bulk, such as scrap metal and paper that will become the raw materials for new goods manufactured in Asia.  “We are now just getting back to the level of exporting we were at in early 2007, before the global financial and economic crisis sent international trade spiraling down,” said Jock O’Connell, the UC center’s international trade and economics advisor. 

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