January imports rise at fastest pace in 7 years

Category: General

Country: United States

Region: East Coast

By Bobby Dalheim
Senior Editor of Case Goods and Global Sourcing
14th February, 2024

ATLANTA – Despite issues and delays in both the Suez and Panama Canals, January imports rose nearly 8% from December, according to logistics software provider Descartes, marking the biggest December-to-January gain in seven years.

According to Descartes data, which it derives from U.S. Customs filings, the U.S. imported 2.27 million twenty-foot containers in January, a 7.9% gain from December and a 9.9% increase from last January.

Container imports rose 8.4% across the top 10 U.S. ports, with the ports of Los Angeles (up 21.1%) and Long Beach (up 15.1%) seeing the biggest gains. The Port of New York saw a 6.8% gain, while the ports of Houston and Charleston saw the biggest decreases.

Descartes cited a rise in imports from China as being a big reason for the increase, which climbed 14.9% over December. Interestingly, furniture and mattresses were the biggest product categories among these imports.

January port transit delays increased overall, especially at East Coast ports, according to Descartes. Overall port transit delays increased across the top ports, with the exception of the Port of Los Angeles, which showed a slight decrease. The top East Coast ports had significant increases with the Ports of Norfolk, New York/New Jersey and Charleston seeing a more than two-day transit delay increases.

Descartes also noted risk factors for the year. The most notable is the labor agreement between the International Longshoremen’s Assn. and the United States Maritime Alliance, which will expire at the end of September. As of late last year, the union vowed not to extend the contract based on concerns of automation and wages.

Other factors cited were the health of the U.S. economy, rising port transit wait times and the possibility of new COVID subvariants hitting China in particular.

Courtesy: Hometextilestoday.com