PORT OF LOS ANGELES CARGO VOLUME INCREASES AGAIN IN SEPTEMBER
National Retail Federation CEO Shares Forecast Ahead of Holiday Season
SAN PEDRO, Calif. – Oct. 23, 2023 – 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.
“September was another good month, with imports up 14% and exports jumping 55%,” said Port of Los Angeles Executive Director Gene Seroka. “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,” Seroka added. “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 Monday’s 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 said. “As we gear up for the holiday season, we expect moderate growth to continue as consumers focus on value and household priorities.
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.
Nine months into 2023, the Port has processed 6,398,126 TEUs, 18.6% less than the same period last year. Current and historical cargo data, including fiscal year-end totals, are available here.