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In January, U.S. container import volume increased 7.9% from December 2023, the largest month-over-month growth for January in the last seven years. A 14.9% rise in imports from China fueled the gains with the Ports of Los Angeles and Long Beach getting most of it, according to new data released by Descartes Systems Group.
“January was another solid month driven by surprisingly strong imports from China,” says Chris Jones, EVP industry and services, Descartes. “The combined effect of the Panama drought and the conflict in the Middle East is beginning to impact transit times, particularly at the top East and Gulf coast ports.”
Key takeaways:
- The combination of the Panama drought and Middle East conflict is beginning to impact transit times as delays at the top East and Gulf Coast ports increased considerably.
- Data shows accelerated container import volume amid signs that global supply chain performance could be impacted throughout 2024 because of conditions at the Panama and Suez Canals and upcoming labor negotiations at U.S South Atlantic and Gulf Coast ports.
- January U.S. container import volumes increased 7.9% from December 2023 to 2,273,125 twenty-foot equivalent units (TEUs) vs. January 2023, TEU volume was higher by 9.9%, and up 9.6% from pre-pandemic January 2019.
