California is one of the 10 largest economies in the world with a gross state product of more than $1.9 trillion. International-related commerce accounts for approximately one-quarter of the state’s economy. As you see International trade’s impact on California is immense. Trade offers the opportunity to expand the role of California’s exports. In its broadest terms, trade can literally feed the world and raise the living standards of those around us.
U.S Trade Facts
According to the U.S. Department of Commerce, the United States is the world’s largest economy with a GDP of $14.6 trillion. The largest export markets for U.S. goods in 2010 were Canada ($248.2 billion, up 21 percent), Mexico ($163 billion, up 27 percent), China ($91.9 billion, up 32 percent), and Japan ($60.5 billion, up 18 percent).
California Trade Facts
U.S. Department of Commerce reported that, in 2010, California exports amounted to over $143 billion, an increase from 2009 of nearly $120 billion. California maintained its steady position as a top exporting state. Exports from California accounted for 11 percent of total U.S. exports in 2010. California's top trading partners are Mexico, Canada, China, Japan and South Korea. California trade and exports translate into high-paying jobs for over one million Californians.
Top Export Sectors
California is the number one exporter in the nation of computers, electronic products, and sales of food and kindred products. Computers and electronic products are California's top export, accounting for 30 percent of all the state's exports.
Although California exports of transportation equipment, machinery manufactures and chemicals suffered 20 percent decreases in 2009, by year end 2010 each category had made a full recovery and began showing signs of an increase.
The chamber believes there is no better time than the present for your business to start thinking how international trade activities can help grow your business. The Chamber’s International Trade Committee is made up of a combination of individuals in the business community with experience and an interest in promoting International Trade to expand our local economy.
For more information on how to get involved with the International Trade program through the chamber please contact email@example.com or at 310-376-6911 x 21.