2011 Was Best Year Ever for California Exports
Despite an 11.1% jobless rate in December that was the highest in the country except for Nevada's 12.6% rate, the LA Times is reporting that California's exports surged to a new record high of $159.35 billion in 2011. That was an 11.2% increase over 2010, and after adjusting for inflation, exports last year surpassed the previous historical high in 2000 during the "dot-com" boom.
From the LA Times article:
"Despite a widespread conviction that California has been closed for business, 2011 turned out to be the best year ever for California’s export trade,” said Jock O’Connell, Beacon Economics’ international trade advisor.
Also encouraging was the fact that the exports were led by sales of high-technology goods such as electronics products, industrial machinery and medical equipment, the Beacon report said.
HT: Benjamin Cole
4 Comments:
Mark, don't know if you caught this or not, but it sounds worth making note of:
U.S. freight shipments hit an all-time high in December
And California exported a lot of businesses and jobs, too.
How much of the stuff exported through CA was made in CA?
California Exports would have been substantially higher if Intellectual Porperty (IP) rights were enforced in some trading nations. The entertainment capital of the world (Hollywood), Silicon Valley as well as San Diego and Orange County are world centers for IP creation and marketing.
So, how much would U.S. exports rise to China if U.S. IP rights were really enforced by China?
About two thirds more, according to the United States Trade Representative's 2010 Reprot to Congress.
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