Sacramento, May 12, 2009 - California's merchandise export trade deteriorated further in March as a consequence of the persistent worldwide economic and financial crisis.
Golden State exports in March totaled $9.8 billion, some 20.9 percent below the $12.4 billion the state exported in the same month last year, according to figures compiled by the University of California Center Sacramento from data released this morning by the U.S. Commerce Department.
The state's manufactured exports declined by 24.8 percent. Overseas shipments of agricultural goods and other non-manufactured exports shrunk by 13.6 percent, despite a surge in rice exports during March:
"California's export trade continues to show little evidence of imminent recovery," said Jock O'Connell, the UC Center's international trade and economics adviser. He noted that March was the fifth straight month in which California's exports fell well below the levels reported for the same months in the preceding year.