The Port of Los Angeles has registered an increase in cargo volumes for the second consecutive month compared to 2022.
The port handled 748,440 TEU in September, a 5.4 per cent improvement compared to the same period last year.
Port of Los Angeles Executive Director Gene Seroka, said: “September was another good month, with imports up 14 per cent and exports jumping 55 per cent.
“Exports are trending up, and that’s good news because narrowing the trade gap boosts the US economy. Additionally, export jobs on average pay more than work in other segments. With a long-term dockworker contract in place, we’re seeing more cargo shifting back to Los Angeles. The table is set to scale up as demand increases.”
Matthew Shay, President and CEO of the National Retail Federation, outlined retail trends for the upcoming holiday season during a media briefing.
“Retailers have been hard at work getting holiday inventories in place to provide consumers with great products, competitive prices and convenience at every opportunity,” Shay stated.
“As we gear up for the holiday season, we expect moderate growth to continue as consumers focus on value and household priorities.”
Loaded imports arrived at 392,608 TEU at Los Angeles in September 2023, up 14 per cent from the previous year.
Loaded exports totalled 120,635 TEU, representing a 55 per cent increase over 2022. It was the fourth month in a row that monthly exports increased year on year.
Empty containers were 235,197 TEU, an 18.5 per cent decrease from the previous year. September shipments totalled 748,440 TEU, a 5.4 per cent rise over the previous September.
The port has processed 6,398,126 TEU nine months into 2023, which is 18.6 per cent less than the same period last year.