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US retail imports expected to reach record highs despite slow growth
THE rate of import growth at the major retail container ports in the US has begun to slow after double-digit increases earlier this year, according to the monthly Global Port Tracker from the National Retail Federation and Hackett Associates.
"Year-over-year comparisons are slowing down but that's largely because we had some unusual numbers early this year and strong volume in the second half of last year," said federation vice president Jonathan Gold.
"Despite that, we're expecting some of the largest import volumes we've ever seen, and that's because retailers are responding to strong consumer demand."
Ports covered by Global Port Tracker handled 1.61 million TEU in April, an increase of 4.8 per cent from March and up 11.3 per cent from April 2016.
May was estimated at 1.69 million TEU, up 3.9 per cent from the same time last year. June is forecast at 1.64 million TEU, up 4.1 per cent from last year; July at 1.68 million TEU, up 3.5 per cent; August at 1.74 million TEU, up 1.6 per cent.
The August figure would be the highest monthly volume recorded since NRF began tracking imports in 2000, topping the 1.73 million TEU seen in March 2015.
April's 11.34 per cent year-on-year figure and a 15.8 per cent year-on-year increase in March were unusually high anomalies because of where Lunar New Year fell on the calendar and affected production at factories in Asia.
The first half of 2017 is expected to total 9.6 million TEU, up 6.4 per cent from the first half of 2016. Cargo volume for 2016 totalled 18.8 million TEU, up 3.1 per cent from 2015, which had grown 5.4 per cent from 2014.
The US ports covered in the report are Los Angeles, Long Beach, Oakland, Seattle, Tacoma, New York/New Jersey, Hampton Roads, Charleston, Savannah, Port Everglades, Miami and Houston.
"Year-over-year comparisons are slowing down but that's largely because we had some unusual numbers early this year and strong volume in the second half of last year," said federation vice president Jonathan Gold.
"Despite that, we're expecting some of the largest import volumes we've ever seen, and that's because retailers are responding to strong consumer demand."
Ports covered by Global Port Tracker handled 1.61 million TEU in April, an increase of 4.8 per cent from March and up 11.3 per cent from April 2016.
May was estimated at 1.69 million TEU, up 3.9 per cent from the same time last year. June is forecast at 1.64 million TEU, up 4.1 per cent from last year; July at 1.68 million TEU, up 3.5 per cent; August at 1.74 million TEU, up 1.6 per cent.
The August figure would be the highest monthly volume recorded since NRF began tracking imports in 2000, topping the 1.73 million TEU seen in March 2015.
April's 11.34 per cent year-on-year figure and a 15.8 per cent year-on-year increase in March were unusually high anomalies because of where Lunar New Year fell on the calendar and affected production at factories in Asia.
The first half of 2017 is expected to total 9.6 million TEU, up 6.4 per cent from the first half of 2016. Cargo volume for 2016 totalled 18.8 million TEU, up 3.1 per cent from 2015, which had grown 5.4 per cent from 2014.
The US ports covered in the report are Los Angeles, Long Beach, Oakland, Seattle, Tacoma, New York/New Jersey, Hampton Roads, Charleston, Savannah, Port Everglades, Miami and Houston.
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