In August, the volume of goods imported through the top US container ports is expected to reach its highest level in over a year.
The forecast is in the latest US National Retail Federation (NRF)report.
The Global Port Tracker, compiled together with Hackett Associates, points out that 2.03 million TEUs are expected by the end of this month. A figure that marks, for the first time since last October, the crossing of the 2 million TEU threshold.
Ports have not yet provided data for July, but the Global Port Tracker forecasts imports of 1.91 million TEUs this month, down 12.7% on the same month in 2022. In June, import volumes stood at around 1.84m TEUs, i.e. -18.7% year-on-year. Overall, 10.5 million TEUs are expected to be imported in the first half of 2023, representing a 22% drop on the same period last year.
The founder of Hackett Associates, Ben Hackett, pointed out that this year imports have averaged double-digit year-on-year downturns. However, this has been counterbalanced by increased consumer spending and national employment levels.
According to Mr. Hackett cargo volumes are expected to increase again as soon as the stocks that retailers have accumulated over the past 12 to 18 months have been cleared.
Translation by Giles Foster
