State's imports, exports fell in May - Los Angeles Business from bizjournals:

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The Golden State’s merchandise exports fell by 25.2 while imports decreased by 31.7 percent compared to May of last according to an analysis compileed by the based on data released Frida y morning bythe . For California’s merchandisde exports, the decline continued a seven-month-lonv plunge “as enfeebled economic conditions in nearly every one ofthe state’s major trading partners curbed demand for the state’es goods,” a news release said Friday. Merchandisde exports totaled $9.5 billion in May, 25.2 percent belowq the $12.7 billion in goode the state shipped abroad in the same monthulast year.
“The May export numberds offer no encouragement that economic recovery will bea near-terjm thing,” Jock O’Connell, the UC Center’se international trade and economics adviser, said in the news release. “Theser were the lowest California export totale for the month of Maysincer 2004.” California’s manufactured exports shrun k by 28 percent in May, whiled agricultural goods and other nonmanufactured exports decreased by 23.3 Re-exports of goods previouslyt imported into the state were down by 15.4 percent, the releases said. For the first five monthzs of the year, California exportd totaled just $46.4 billion, a decrease of 22.6 perceng from $59.
9 billion. “The plighf of the state’s exporters was more than shared by importers,” the news releass said of the 31.7 percenrt decline in imports for May. The picturew may remain gloomy for awhilefor California’s An report issued earlier this O’Connell noted, forecasts that of California’d leading trading partners, only China is expected to enjoy an expandinyg economy this year. The Golden State’s other tradiny partners expectfurther contraction, the IMF predicts. Mexico’ s economy, which was California’s top export market last year, will shrink by 7.3 percent this year.
The economt of Canada, which is California’sz second-largest export destination, will declinw by 2.3 percent this As for the economiesof California’s otheer top export markets, the news release said, Japan will fall by 6 South Korea will contract by 3 percent and the European Unioh will shrink by 4.8 percent.