Port of Oakland Imports Jump 10.4%
The Port of Oakland said Wednesday that its October imports grew 10.4% compared to October 2019. The port also said containerized export volume was down 0.5% when compared to October 2019. Total TEUs for October were 216,686, up 5.8% compared to October 2019 when TEUs were 204,880.
The port attributed the jump in imports to the pandemic changing consumer spending habits. The port said consumer products are driving the strong import performance from Asia. In turn, this is causing retailers to continue stocking up fearing a second wave of factory shutdowns.
“We’re cautiously optimistic because our industry partners are pointing to continued strong import demand heading into 2021,” said Port of Oakland Maritime Director Bryan Brandes. “Peak season is here, and we’re seeing retailers stocking up on as much product as possible.”
Compared to last year, the first 10 months of 2020 show full imports up 1.4% and full exports down 0.2%.