China Dominates U.S. Import Surge as Ports Feel the Heat

In a clear indication of the U.S. economy’s ongoing strength, October’s container imports reached 2,494,635 twenty-foot equivalent units (TEUs), according to the latest Descartes Systems Group‘s Global Shipping Report.

This marks the fourth consecutive month where volumes have exceeded 2.4 million TEUs, a threshold that has historically put significant strain on U.S. maritime logistics.

The impressive import figures for October 2024 represent an 8.1% increase compared to the same month in 2023 and a substantial 20.5% rise from pre-pandemic levels in 2019. Even more striking is the cumulative growth for the first ten months of 2024, which saw a 13.1% increase over the same period in 2023 and a 16.9% jump compared to 2019.

The figures are the latest to underscore the remarkable performance of container imports throughout 2024, especially when contrasted with the modest 3.4% growth observed in the first ten months of 2023 compared to 2019.

However, this surge in import volumes is not without its challenges. Transit time delays increased at seven of the top ten U.S. ports in October, with the top five East and Gulf Coast ports experiencing disruptions due to a three-day International Longshoreman’s Association (ILA) strike at the beginning of the month.

“While four months of elevated container import volumes illustrates the continued strength of U.S. imports, port operations may be starting to feel the impact with transit time delays increasing at the majority of the top 10 U.S. ports in October,” said Jackson Wood, Director of Industry Strategy at Descartes.

China continues to dominate as the primary source of U.S. imports, with October marking the fifth consecutive month where imports from China exceeded 900,000 TEUs. The exact figure for October stood at an impressive 960,016 TEUs, further cementing China’s crucial role in U.S. trade. “This trend underscores the strength of U.S.-China trade in 2024, especially compared to 2023 when monthly imports never surpassed the 900,000 TEU mark,” said Descartes.

The report also noted the coastal shift in imports. For the fourth consecutive month, top West Coast ports captured a larger share of imports compared to their East and Gulf Coast counterparts

“October data reveals only slight shifts in distribution: the West Coast’s share edged up from 45.7% in September to 45.8% in October, while the East and Gulf Coast ports’ share dipped slightly from 39.6% to 39.4%,” the report said.

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