The Port of Los Angeles moved 684,291 TEUs in July as cargo shipments declined compared to last year’s record month.
“Global trade has eased as warehouse inventories of retailers and manufacturers remain elevated,” said Port of Los Angeles Executive Director Gene Seroka. “American consumers are continuing to spend and are likely to find more discounted items this year as we move into fall fashion and year-end holiday season.”
July 2023 loaded imports landed at 364,208 TEUs, down 25% compared to the previous year. Loaded exports came in at 110,372 TEUs, an increase of 6% compared to last year. With the need for empty containers in Asia slowing, just 209,710 empty TEUs were processed, a 39% year-over-year decline. Combined, July volumes were 684,291 TEUs, a 27% year-over-year decline.
Seven months into 2023, the Port has processed 4,821,670 TEUs, about 24% less than the same period last year.
The busiest seaport in the Western Hemisphere, the Port of Los Angeles is North America’s leading trade gateway and has ranked as the No. 1 container port in the United States for 23 consecutive years. In 2022, the Port facilitated $311 billion in trade and handled a total of 9.9 million container units, the second busiest calendar year in the Port’s 116-year history.