Cargo moving through the Port of Long Beach eased up in October following reduced consumer demand and a shift of imported goods toward the Gulf and East coasts.
The Port of Long Beach moved 658,428 twenty-foot equivalent units (TEUs) of cargo containers last month, a 16.6% decline from October 2021.
Imports were down 23.7% to 293,924 TEUs and exports decreased 2% to 119,763 TEUs. Empty containers moved through the Port fell 13.4% to 244,743 TEUs.
"The supply chain is returning back to normal and cargo continues to move, so I am optimistic that store shelves will be stocked and goods will be available for delivery during the holiday season," said Mario Cordero, Port of Long Beach executive director.
"Over the long term, the San Pedro Bay ports complex will continue to be a competitive, strategic and sustainable gateway for trans-Pacific trade," he added.
Despite surging inflation and interest rates, economists say consumers still have enough resources to weather economic headwinds.
Port of Long Beach noted that the softening consumer activity will lead to a better balance between supply and demand, and reduce stress on the national supply chain.
The Port of Long Beach has moved 8,000,811 TEUs during the first 10 months of 2022, up 1.5% from the same period in 2021.
Cargo moving through the Port of Long Beach eased up in October following reduced consumer demand and a shift of imported goods toward the Gulf and East coasts.
The Port of Long Beach moved 658,428 twenty-foot equivalent units (TEUs) of cargo containers last month, a 16.6% decline from October 2021.
Imports were down 23.7% to 293,924 TEUs and exports decreased 2% to 119,763 TEUs. Empty containers moved through the Port fell 13.4% to 244,743 TEUs.
"The supply chain is returning back to normal and cargo continues to move, so I am optimistic that store shelves will be stocked and goods will be available for delivery during the holiday season," said Mario Cordero, Port of Long Beach executive director.
"Over the long term, the San Pedro Bay ports complex will continue to be a competitive, strategic and sustainable gateway for trans-Pacific trade," he added.
Despite surging inflation and interest rates, economists say consumers still have enough resources to weather economic headwinds.
Port of Long Beach noted that the softening consumer activity will lead to a better balance between supply and demand, and reduce stress on the national supply chain.
The Port of Long Beach has moved 8,000,811 TEUs during the first 10 months of 2022, up 1.5% from the same period in 2021.
