US Import Growth Remains Strong in September, Reports Descartes
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LM Staff October 11, 2024
Headquartered in Waterloo, Ontario, Descartes Systems Group recently released its Global Shipping Report for September. This company offers logistics on-demand software as a service (SaaS). The report highlights that the US market experienced another strong month of import growth in September.
This is the 38th edition of the Global Shipping Report since its first release in August 2021.
According to the report, US container imports grew by 14.4% year-over-year from August to September, reaching 2,520,935 TEUs (Twenty-foot Equivalent Units). This marks the third consecutive month with import volumes exceeding 2.4 million TEUs, placing significant historical pressure on US maritime logistics infrastructure. The September figures represent a 23.5% increase compared to September 2019 pre-pandemic levels.
Descartes data shows that total imports into the US for the first nine months of 2024 were up by 16.5% compared to the same period in 2019.
Despite the growth in import volumes, the report notes a reduction in port transit times at the top ten US ports. While strong import performance was observed, the newly reached interim agreement between the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA), along with ongoing conflicts in the Middle East, could exert pressure on supply chains by year-end.
Jackson Wood, Industry Strategy Director at Descartes, commented: “Despite container imports remaining at record levels for the third consecutive month, port transit delays improved across the top ten US ports in September. Imports from China have driven overall US import volumes, setting new monthly records in July, August, and now September.”
Some notable findings from the report include:
– Over the past three months, US imports of containers from China have been at record levels, with 1,022,913 TEUs in July, 975,129 TEUs in August, and 989,425 TEUs in September. The import volume from China in September was down by 3.3% compared to the historical high point in July.
– Container imports into the top ten US ports increased by 46,855 TEUs compared to August 2024, representing a year-over-year growth of 2.2%. The Port of Long Beach (up by 50,401 TEUs), Charleston (up by 13,357 TEUs), and Baltimore (up by 6,144 TEUs) saw the largest increases. In contrast, New York/New Jersey (down by 19,731 TEUs), Savannah (down by 7,730 TEUs), and Tacoma (down by 2,435 TEUs) experienced the most significant month-over-month declines.
– US container imports from the top ten origin countries decreased by 41,680 TEUs compared to August, a decline of 2.2%. Among these countries, Vietnam (up by 31,259 TEUs), India (up by 19,410 TEUs), and Thailand (up by 14,330 TEUs) saw the largest increases. Conversely, Germany (down by 11,479 TEUs), South Korea (down by 8,291 TEUs), and Italy (down by 7,485 TEUs) recorded the most significant decreases.
For the full report, please visit Descartes’ website.
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Source: Logistics Management
