CALIFORNIA BUSINESS MINUTE
International Trade
10-13-11
Hi, I am Tim Johnson and welcome to the California Business Minute.
The US Trade Balance basically remained unchanged in August from July as both
imports and exports decreased according to the monthly report by the U.S. Dept
of Commerce.
The trade gap was $45.6 billion lower than analysts had forecast. Exports were
$177.6 billion and imports were $223.2 billion. Exports remained unchanged over
the month, while import activity decreased except the gap was bolstered by
increases in oil from the previous month.
Given that oil prices have come down in recent weeks, the prognosis moving
forward suggests improvement in the US trade gap, especially that US exports
are holding up and that the imports of consumer goods are being downgraded by
lack of demand by the American consumer.
California saw its state gap continue to grow to $18 billion. Exports rose to
the highest level for the year to nearly $14 billion, surpassing the high in
March. The growth was seen in manufactured goods. Imports increased to $32
billion. Year to date totals for exports are $104 billion and for imports are
$227 billion.
California remains second to Texas in export and overall trade activity.
I am Tim Johnson and this has been the California Business Minute.
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