Nicknamed “The Golden State” stretching along America’s west coast within the Pacific Region, California shipped US$174.9 billion worth of goods around the globe in 2021. That dollar amount represents a flatlining -1.8% decline from $178.2 billion 4 years earlier in 2018.

Year over year, the overall value of exported Californian exported products grew by 12.2% compared to $155.9 billion during 2020.

Looking forward to 2022, the value of California’s exports from January to August 2022 totaled $124.5 billion. Total Californian exports in 2022 are estimated to be on track for an annualized $186.8 billion, up by 6.8% compared to the $174.9 billion for 2021.

California is America’s second-biggest exporter by state behind oil-rich Texas. The value of California’s exports equals 10% of the United States’ overall exported product sales for 2021.

Based on statistics from the US Department of Commerce’s Bureau of Economic Analysis (BEA), California’s exported products represent an estimated 5.6% of the state’s total economic output or nominal Gross Domestic Product in 2021 ($3.133 trillion in US dollars based on nominal GDP statistics).

Given California’s population of 39.2 million people, its total $174.9 billion in 2021 exported products translates to roughly $4,500 for every resident in “The Golden State”.

California’s unemployment rate was 4.1% at August 2022 down from 7% in one year earlier, per YCharts.

California’s Top 10 Exports

The following export products represent the highest dollar value in California global shipments during 2021. Also shown is the percentage share each export category represents in terms of overall exports from California.

Figures are shown at the more granular six-digit Harmonized Tariff System code level, for more precise product identification.

1. Machinery for making semi-conductors: $6.2 billion (3.6% of California’s total exports)
2. Aircraft including engines, parts: $5.5 billion (3.2%)
3. Diamonds (unmounted): $4.5 billion (2.6%)
4. Integrated circuits (excluding processors/controllers): $4.2 billion (2.4%)
5. Modems, similar reception/transmission devices: $4.05 billion (2.3%)
6. Machinery parts or accessories for making semi-conductors: $3.9 billion (2.2%)
7. Other composite diagnostic or laboratory reagents: $3.7 billion (2.1%)
8. Electric vehicles: US$3.46 billion (2%)
9. Computer parts and accessories: $3.44 billion (2%)
10. Shelled almonds $3.3 billion (1.9%)

California’s top 10 exports represent almost a quarter (24.2%) of the overall value of the state’s global shipments.

Diamonds became the fastest grower among California’s top 10 export categories, up by 40.5% from 2020 to 2021. In second place for improving export sales were computer parts and accessories thanks to a 39.2% gain. Shipments of miscellaneous composite diagnostic or laboratory reagents posted the third-fastest improvement via a 29.7% increase in value.

There was a pair of decliners among California’s top 10 export products namely electric vehicles (down -39.4%) and fresh or dried shelled almonds (down -1.7%).

More Key Facts about California’s Exports

Overall, California incurred a -$295.4 billion deficit exporting and importing products during 2021. That dollar amount reflects a 23.1% year-over-year expansion from -$239.9 billion in red ink in 2020.

Another way of saying surplus or deficit is positive or negative net exports. In a nutshell, the term “net exports” quantifies the amount by which foreign spending on a state’s goods or services exceeds or lags that same state’s spending on foreign goods or services.

Below are California’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2020.

1. Small portable digital computers: $20.4 billion (4.3% of California’s total imports)
2. Crude petroleum oils: $19.8 billion (4.2%)
3. Mid-sized automobiles (piston engine): $18.9 billion (4%)
4. Computer parts and accessories: $14.2 billion (3%)
5. Cell phones: $9.96 billion (2.1%)
6. Modems, similar reception/transmission devices: $9.6 billion (2%)
7. Digital processing units (individual components): $8.4 billion (1.8%)
8. Wheeled toys including scooters: $6.8 billion (1.4%)
9. Large automobiles (piston engine): $6.74 billion (1.4%)
10. Miscellaneous reception equipment including for television: $6.72 billion (1.4%)

California has highly negative net exports in the international trade of automobiles, small portable digital computers, crude petroleum and computer parts or accessories. In turn, these cashflows indicate California’s strong competitive disadvantages under these product categories thus highlighting the strong impact of foreign-made goods on California’s global balance sheet.

California’s Major Trading Partners

The following list shows the top 10 customers that purchased over two-thirds (69.4%) worth of the total value of products exported from California during 2021.

1. Mexico $27.2 billion (15.6% of California’s total exports)
2. Canada $18 billion (10.3%)
3. China $16.6 billion (9.5%)
4. Japan $11.8 billion (6.7%)
5. South Korea $11.6 billion (6.6%)
6. Taiwan $8.96 billion (5.1%)
7. Germany $7.6 billion (4.3%)
8. Hong Kong $6.8 billion (3.9%)
9. India $6.7 billion (3.8%)
10. Netherlands $6.1 billion (3.5%)

California’s top trade partners in North America, Canada and Mexico, account for over one-quarter (25.9%) of the overall value of exported goods from the state. This compares with 35.7% for top Asian countries that consume Californian exports (namely China, Japan, South Korea, Taiwan, Hong Kong and India).

California Export Companies

Fifty-three of California-headquartered corporations rank among America’s leading companies showcased in the Fortune 500 listing. Selected examples are listed below, sorted by highest revenues.

• Apple Inc. (computer hardware, software)
• McKesson Corporation (pharmaceuticals, medical technology)
• Chevron Corporation (petroleum, natural gas, petrochemicals)
• Wells Fargo (multinational financial services)
• Alphabet Inc (technology, autonomous cars, software)
• Intel Corporation (microprocessors, chips, mobile phones, flash memories)
• Hewlett-Packard (computer hardware, software)
• Cisco Systems (telecom equipment, networking hardware)
• Oracle (servers, workstations, storage devices, middleware)
• Gilead Sciences (pharmaceuticals, biotechnology products)

Shown within brackets for each company is a summary of the international trade-related product categories in which each business deals.

 

California’s capital city is Sacramento, nicknamed “The City of Trees” and “Sactown”.

See also America’s Top 20 Export States, United States Top 10 Exports and Top United States Trade Balances

Research Sources:
Department of Numbers, California GDP (dollars shown in real terms). Accessed on October 15, 2022

FlagPictures.org, Flags of US States. Accessed on October 15, 2022

Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on October 15, 2022

Fortune Finance * California, California’s Economy Is Now Bigger Than All of the UK. Accessed on October 15, 2022

International Trade Centre, Trade Map. Accessed on October 15, 2022

Investopedia, Net Exports Definition. Accessed on October 15, 2022

Los Angeles Times, The new Fortune 500 list is out. These California companies made the cut. Accessed on October 15, 2022

United States Census Bureau, Foreign Trade (State by 6-Digit HS Code). Accessed on October 15, 2022

United States Census Bureau, QuickFacts: California. Accessed on October 15, 2022

USA Trade Online, Official Source of Trade Statistics. Accessed on October 15, 2022

Wikipedia, California. Accessed on October 15, 2022

Wikipedia, List of California Companies. Accessed on October 15, 2022

Wikipedia, List of U.S. states and territories by GDP. Accessed on October 15, 2022

World’s Capital Cities, Capital Facts for Sacramento, United States. Accessed on October 15, 2022

YCharts, Regional and State Employment and Unemployment Report. Accessed on October 15, 2022