Imports

For March, the most recent month for which data is available, Port Tracker reported that import volume, for the ports covered in the report, came in at 1.93 million Twenty-Foot Equivalent Units (TEU), down 1.4% compared to February and up 18.7% annually, a period when Asian export activity was slow on the heels of Lunar New Year shutdowns, it noted.   

March imports, at 2.489 million TEU (Twenty-Foot Equivalent Units), posted a 16% annual gain, and first quarter imports, at 7.537 million TEU, rose 15% annually, amid various supply chain disruptions.

From February to March, the report observed that U.S.-bound container import volumes eked out a 0.4% increase, to 2,145,341 twenty-foot equivalent units (TEU), while posting a 15.7% annual gain, ahead of pre-pandemic 2019 by 20.6%. Descartes explained that the timing of the week-long Lunar New Year in Asia, which commenced on February 11 may have held import growth back, as the subsequent impact on U.S. import numbers was not realized until the last two weeks of March.

January imports, at 2.59 million TEU (Twenty-Foot Equivalent Units) rose 9% annually, representing the third consecutive month of annual growth coming in at 9%.

POLA volume came in at 855,652 TEU (Twenty-Foot Equivalent Units), for an 18% annual increase, and POLB reported that January volume, at 674,015 TEU, increased 17.5% annually.

For calendar year 2023, total U.S.-bound retail container imports, at 22.3 million TEU, were down 12.8% compared to 2022.  The report observed that this was in line with expectations, adding that the shift to growth in its forecast is intact.

From December to January, Descartes reported that U.S.-bound container import volumes rose 7.9%, to 2,273,125 TEU (Twenty-Foot Equivalent Units). And on an annual basis, it found that January volumes were up 9.9%, while posting a 9.6% increase compared to pre-pandemic 2019’s 2,036,393 TEU tally. What’s more, the report noted that the 7.9% sequential increase, from December to January, marked its biggest gain for that period over the last seven years.

United States-bound containerized freight imports finished 2023 on a growth track, for the fourth consecutive month in December, after a 14-month stretch of annual declines, according to data recently issued by S&P Global Market Intelligence. December imports, at 2.2 million TEU (Twenty-Foot Equivalent Units), increased 9% in December, matching November’s annual percentage gain. For all of calendar year 2023, S&P reported that imports fell 8.5%, to 28.9 million TEU, while the fourth quarter posted an 8% annual improvement.

From November to December, Descartes reported that U.S.-bound container import volumes eked out 0.4% increase, to 2,107,012 TEU (Twenty-Foot Equivalent Units), topping December 2022’s 1,929,032 TEU tally by 9.2% and was up 10.6% compared to pre-pandemic December 2019’s 1,904,828 TEU.

The Port of Los Angele reported that total November volume, at 763,262 TEU (Twenty-Foot Equivalent Units), posted a 19% annual gain, and the Port of Long Beach reported that total November volume, at 731,033 TEU, saw a 24.2% annual increase.

November imports, at 2.41 million TEU (Twenty-Foot Equivalent Units), increased 9% annually, following a 5% annual gain in October. On a year-to-date basis through November, imports are down 9.9% annually, to 29.3 million TEU.  

October imports, at 2.64 million TEU (Twenty-Foot Equivalent Units), increased 5% annually, following a 1% annual gain in September. On a year-to-date basis through October, imports are down 11.5%, to 24.02 million TEU.  

POLA reported that total October volume, at 725,775 TEU (Twenty-Foot Equivalent Units), was up 7% annually. The Port of Long Beach reported that total October volume, at 755,150 TEU, was up 14% annually.

From September to October, Descartes reported that U.S.-bound container import volumes increased 4.7%, coming in at 2,307,918 Twenty-Foot Equivalent Units (TEU), which it said was inconsistent with the Peak Season decline that traditionally starts in the August timeframe, while rising 3.9% annually.

The story of the economy since the onset of the pandemic has been the resilience of consumers and how consumption has powered the economy. That was the word from Matthew Shay, president and CEO of the Washington, D.C.-based National Retail Federation (NRF) on a media conference call hosted by the Port of Los Angeles this week.