September 13, 2018 Comments (0) Views: 845 California News, Top California

Imports Fell at Southern California Ports in August

Imports declined in August at the nation’s busiest trade hub in SoCal, as a shipping surge ahead of potential trans-Pacific tariffs appears to be fading. The Port of Los Angeles and Port of Long Beach reported they handled a combined 763,602 TEUs (20-foot equivalent units) of loaded inbound containers last month, down 3.1% from August 2017.

It was the second straight monthly decline and comes on the heels of an 8.4% increase in June, when companies moved to get ahead of proposed new tariffs on goods between the U.S. and China. It is also a time when retailers typically place large orders in anticipation of fall and holiday shopping seasons.

The Port of Los Angeles processed 826,638 TEUs in August 2018, a 2.5% dip compared to August 2017, which was the Port’s busiest August to date. August 2018 imports decreased 2.8% to 420,573 TEUs compared to the previous year, while exports increased 2% to 162,466 TEUs.

The adjoining Port of Long Beach handled 679,543 TEUs in August 2018, a 1.9% drop from August 2017. That included a 3.6% drop in imports to 343,029 TEUs and a 1.9% increase in exports to 119,546 TEUs.

Read more at Port of LA

Read more at Port of Long Beach

Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Tags: , , ,

Comments are closed.