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Business Oct 24, 2023
The Port of Long Beach. | Photo courtesy of Charles Csavossy/U.S. Customs and Border Protection/Wikimedia Commons (CC0)
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The Port of Los Angeles handled 748,440 twenty-foot equivalent units in September, a 5.4% improvement compared to the same month last year, marking the second consecutive month cargo volume increased, port officials announced Monday.
“September was another good month, with imports up 14% and exports jumping 55%,” Gene Seroka, executive director of the Port of Los Angeles, said during an online briefing. “Exports are trending up, and that’s good news because narrowing the trade gap boosts the U.S. economy. Additionally, exports jobs on average pay more than work in other segments.”
He added, “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.”
In Los Angeles, September 2023 loaded imports landed at 392,608 TEUs, an increase of 14% compared to September 2022. Loaded exports cam in at 120,635 TEUs, an increase of 55% compared to last year.
According to port officials, 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 September 2022.
Nine months into 2023, the port has processed 6,398,126 TEUs, 18.6% less than what was processed last year.
Matthew Shay, president and CEO of the National Retail Federation, joined Seroka to provide insight into retail trends for the upcoming holiday season.
“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 said. “As we gear up for the holiday season, we expect moderate growth to continue as consumers focus on value and household priorities.”
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