to New Business Opportunities, Investors & Marketplaces
Sacramento, California USA
Atlanta, Georgia USA
California is one of the 10 largest economies in the world with a gross state product of $3 trillion. International trade and investment are major parts of our economic engine that broadly benefit businesses, communities, consumers and state government.
California’s economy is diverse, and the state’s prosperity is tied to exports and imports of both goods and services by California-based companies, to exports and imports through California’s transportation gateways, and to movement of human and capital resources.
Although trade is a nationally determined policy issue, its impact on California is immense. In 2021, California exported to 226 foreign markets. Trade offers the opportunity to expand the role of California’s exports. In its broadest terms, trade can literally feed the world and raise the living standards of those around us.
According to the United Nations, global trade hit a record high of $28.5 trillion in 2021. However, trade is expected to slow in 2022 due to macroeconomic trends. Ongoing inflation in the U.S., concerns in China’s real estate sector, and persistent supply chain disruptions are expected to effect global trade in 2022.
Top Export Sectors
California is a top exporter in the nation of computers, non-electrical machinery, chemicals, transportation equipment, and agricultural products. Computers and electronic products are California’s top export, accounting for 22.6% of all the state’s exports in 2021.
According to a study by the Consumer Technology Association, in 2017 California had over three million jobs directly and indirectly attributable to consumer tech, many of which derive from consumer tech exports.
Other top categories included non-electrical machinery and chemicals making up 11.6% and 10% of total exports, respectively
Georgia companies contributed to record trade flows in 2021 following a challenging year for global trade in 2020. Georgia’s total trade with the world reached $166.11 billion, spanning 223 countries and territories. Exports of products topped $42.36 billion, setting a new record and growing 9 percent from 2020. Imports totaled $123.74 billion, an increase of 25 percent over the previous year.
Total trade grew 20 percent from 2020 levels, and 16 percent above the previous record set in 2019. The state’s top five trading partners were China, Mexico, Canada, Germany, and Korea. Georgia remains a leading state for total trade, ranking 7th in the U.S. Georgia’s world class logistics infrastructure contributed to the strong rebound in trade in 2021 and continues to provide companies with a competitive advantage in global markets.
WORLD CLASS LOGISTICS ASSETS
Georgia provides companies with unparalleled access to global markets by air and sea. Hartsfield-Jackson Atlanta International Airport is the most efficient passenger airport in the world, and a growing air cargo hub handling more than 625,000 metric tons of cargo each year.
In 2021, more than $150.44 billion in goods flowed through the Ports of Savannah and Brunswick. Georgia’s deepwater ports and inland terminals support 496,700 jobs throughout the state. The Georgia Ports Authority (GPA) experienced unprecedented volume in 2021 as it worked to alleviate global supply chain disruptions. GPA reported 12 consecutive months of container growth for the Port of Savannah with a 20 percent increase in TEUs from the previous year
GPA continues to invest heavily in port capacity and infrastructure improvements to meet the expected demand for growth over the next decade. Major expansion efforts at the Port of Brunswick will increase Ro/Ro capacity to 1.3 million units by the end of 2022, adding new services to prepare vehicles for export and bolstering Georgia’s standing as a hub for automotive trade.