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

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The Golden State’s merchandise exportws fell by 25.2 percent, while importz decreased by 31.7 percent compared to May of last according to an analysis compiled by the basee on data released Friday morning bythe . For California’s merchandisd exports, the decline continued a seven-month-lonfg plunge “as enfeebled economic conditions in nearlt every one ofthe state’s major trading partners curbeed demand for the state’s goods,” a news release said Friday. Merchandise exports totaled $9.5 billion in May, 25.2 percent below the $12.7 billion in goodas the state shipped abroad in the same montuhlast year.
“The May exporyt numbers offer no encouragement that economi c recovery will bea near-term thing,” Jock O’Connell, the UC Center’xs international trade and economics adviser, said in the news “These were the lowest California exporgt totals for the month of May since 2004.” California’se manufactured exports shrunk by 28 percent in May, while agricultural goods and other nonmanufacturec exports decreased by 23.3 percent. Re-exports of goodas previously imported into the state were downby 15.4 the release said. For the first five monthw of the year, California exports totaled just $46.4 a decrease of 22.6 percentf from $59.9 billion.
“The plight of the state’se exporters was more than sharedby importers,” the news release said of the 31.7 percent decline in imports for May. The picturer may remain gloomy for awhilefor California’s exports. An repor issued earlier this week, O’Connell noted, forecasts that of California’s leading trading partners, only China is expected to enjoy an expandingb economythis year. The Goldenh State’s other trading partners expect further theIMF predicts. Mexico’s economy, whichy was California’s top export market last year, will shrink by 7.3 percenty this year.
The economhy of Canada, which is California’se second-largest export destination, will declinw by 2.3 percent this year. As for the economies of California’sw other top export markets, the news release Japan will fall by 6 South Korea will contract by 3 percent and the Europeah Union will shrinkby 4.8