For the second consecutive month, Port of Los Angeles cargo volume increased compared to 2022. The Port handled 748,440 Twenty-Foot Equivalent Units (TEUs) in September, a 5.4% improvement compared to the same period last year.
According to port of Los Angeles Executive Director Gene Seroka, September was another good month, with imports up 14% and exports jumping 55%. As explained, exports are trending up, and that’s good news because narrowing the trade gap boosts the U.S. 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.
…Seroka added.
Retailers have been hard at work getting holiday inventories in place to provide consumers with great products, competitive prices and convenience at every opportunity.
..Matthew Shay, President and CEO of the National Retail Federation, said. “As we gear up for the holiday season, we expect moderate growth to continue as consumers focus on value and household priorities”.
Furthermore, in Los Angeles, September 2023 loaded imports landed at 392,608 TEUs, an increase of 14% compared to the previous year. Loaded exports came in at 120,635 TEUs, an increase of 55% compared to 2022. It was the fourth consecutive month of year-over-year monthly export gains.
Empty containers totaled 235,197 TEUs, an 18.5% decline compared to last year. Combined, September volumes were 748,440 TEUs, a 5.4% increase compared to last September.
