2012, albeit at a more tepid pace. As Table 3 shows, through July 2012 (the latest data available at this writing), California’s exports were roughly 5% higher than they were at the same point in 2011. While this performance cannot be considered a massive increase, it represents ongoing growth nonetheless.
Table 3 California Exports Country Mexico Canada China Japan Korea, Republic Of Hong Kong Taiwan Germany Netherlands United Kingdom Total YTD = Year to Date. Source: Wiser Trade
July 2012 YTD 16,376 9,907 8,182 7,728 5,228 4,458 3,676 2,905 2,620 2,528 95,052
Change % (YTD 2011-2012) 17.57 2.14 0.46 1.13 4.13 5.28 0.61 -7.12 -2.16 6.05 5.11
Even though the headline numbers show slower growth, several sectors continued to do rather well. Take agriculture as a prime example; exports of live animals, fruits and nuts, and dairy products have increased by 17.6%, 16.2%, and 13.1%, respectively. In addition, our manufactured goods have held their ground relatively well with aircraft/spacecraft exports up 11.5% while railway equipment has increased by nearly 13% to date in 2012. California vehicle exports are also on the rise, with more than $4.3 billion sent abroad so far this year, for a 9.8% increase over 2011. Thus, even though state export growth has slowed, export expansion continues to move forward. It is also important to keep in mind that export growth has slowed in part because we are catching up to our historical trend lines. Because exports took a big negative hit in 2009, part of the accelerated growth we experienced in 2010 and 2011 was a catching-up effect. The earlier pace, however, could not be expected to persist indefinitely. 16 200