IE Business Daily Business news for the Inland Empire.
California’s export trade totaled $15.4 billion in March, a year-over-year drop of 5.3 percent, according to a report released this week.
While the state’s exports of agriculture products and raw materials were up slightly, exports of manufactured goods fell 7.4 between March 2023 and March of this year, Los Angeles-based Beacon Economics reported.
“Declining sales to our six largest trading partners as well as a 60.5 percent fall-off in shipments of electric vehicles explains much of the year-over-year drop in California’s merchandise export trade in March,” said Jock O’Connell, Beacon Economics’ international trade advisor, in a statement
During the first three months of the year, California exported $43.104 billion worth of goods, down from $44.725 billion during the same period in 2023, a 3.6 percent decline.
Beacon’s monthly trade report is based on data provided by the U.S. Census Bureau’s Foreign Trade Division.
