California Technology, Trade and Commerce Agency Predicts State Exports are On the Rebound.Business Editors SACRAMENTO, Calif.--(BUSINESS WIRE)--May 17, 2002 March 2002 export figures are the highest since October 2001, indicating a turn-around in the state's recent drop in exports The California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Technology, Trade and Commerce Agency (TTCA TTCA Trinidad & Tobago Contractors Association TTCA Traditional Tae Kwon Do Chung Do Association (Louisville, Kentucky) TTCA Tax Technical Corrections Act of 1998 TTCA TRADOC Training Center Assessment ) today announced that figures from the Massachusetts Massachusetts (măsəch  `sĭts), most populous of the New England states of the NE United States. Institute of Social and Economic Research (MISER) show that the state's export market appears to have turned a corner and is regaining momentum it lost due to a worldwide economic slump SlumpA temporary fall in performance, often describing consistently falling security prices for several weeks or months. . Export totals for the month of March that were released today with the MISER report indicate that California businesses sold more goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. outside the state's borders than at anytime since October 2001 -- a total of $8.35 billion. "This is a clear signal that the export of California goods to our foreign trading partners is on its way back up," said TTCA Secretary Lon S. Hatamiya. "The economic recovery is well underway, and our exporting businesses will soon begin to see even more of the positive impact." Hatamiya said that the increased March exports show that consumers are beginning to regain confidence after the tragic events of 9/11, and that the positive news on California's economy recently has helped boost the export picture. The report also shows that California continues its reign as the nation's top exporting state, outdistancing second-place Texas. It sends more goods and services to Europe and the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community than any other state, and it also remains the top exporting state to Asia. California exports to Asia account for 23 percent of all U.S. exports to that continent. California also exports more computer-related products than any other state. The computer-related sector accounts for 46 percent of total state exports. The state's top export markets remained stable, including: Mexico, Japan, Canada, Taiwan, Korea, the United Kingdom, the Netherlands, China, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and Germany. Overall, California's first quarter exports for 2002 totaled $22.5 billion, down 25.65 percent compared to this time last year. That largely mirrors what has happened in the rest of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. where first quarter exports for 2002 totaled $166.5 billion, down 15.1 percent compared to the same period last year. The California Technology, Trade and Commerce Agency serves as the state's principal catalyst for innovation, investment and economic opportunity, enhancing the quality of life for all Californians. Visit http://commerce.ca.gov for more information. |
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