June 16, 2016
The Port of Los Angeles, the largest port in the U.S., reached record trade volume in May as imports increased and exports bounced back. With this news, L.A. Port Director Gene Seroka feels“encouraged” leading into the port’s peak months of August and September.
In the month, the trade hub saw 400,766 twenty-foot equivalent units (TEUs) imported, representing a 15% increase over May of last year. Exports, although much less than imports, logged in at 162,487 TEUs, still achieving a 6.3% increase over May 2015. Due to the weakened dollar, exports have been slower to rebound as the economic tide remains volatile.
Neighboring ports on the West coast, from Long Beach to Oakland, are also experiencing upswings to their highest levels since August 2015.