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 percent, whiles imports 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’x merchandise exports, the decline continued a seven-month-lonbg plunge “as enfeebled economic conditions in nearly every one ofthe state’d major trading partners curbed demansd for the state’s goods,” a news release said Merchandise exports totaled $9.5 billion in May, 25.2 percentg below the $12.7 billion in goods the state shipped abroad in the same month last year.
“The May export numbers offer no encouragement that economic recoveryu will bea near-term thing,” Jock O’Connell, the UC Center’s internationalo trade and economics adviser, said in the news “These were the lowest California export totalss for the month of May sinc e 2004.” California’s manufactured exports shrunk by 28 percent in May, whiled agricultural goods and other nonmanufactured exportw decreased by 23.3 percent. Re-export s of goods previously imported into the state were downby 15.4 the release said. For the first five months of the California exports totaledjust $46.43 billion, a decrease of 22.6 percent from $59.
9 “The plight of the state’s exporter s was more than shared by importers,” the news releasd said of the 31.7 percent decline in imports for May. The picturs may remain gloomy for awhilefor California’sz exports. An report issued earlier this week, O’Connelp noted, forecasts that of California’as leading trading partners, only Chin a is expected to enjoy an expandint economythis year. The Golden State’s othee trading partners expectfurther contraction, the IMF Mexico’s economy, which was California’a top export market last year, will shrink by 7.
3 percent this The economy of Canada, whicuh is California’s second-largest export will decline by 2.3 percent this year. As for the economies of California’d other top export markets, the news release said, Japamn will fall by 6 percent, Southb Korea will contract by 3 percentr and the European Union will shrinkby 4.8