SIMIC

TORONTO area Nasdaq-listed Descartes Systems Group's study shows US import volumes continue to track 2019 levels, while remaining well-below year-on-year volumes, reports Ventura, California's gCaptain.

In May, US container import volumes saw a 3.8 per cent growth compared to April, reaching a total of 2,097,313 TEU. The surge can be attributed to a rise in imports from China and Vietnam. However, when compared to May 2022, import volumes last month were down by 20 per cent.



Despite the year-on-year decline, import volumes have remained on par with the pre-pandemic levels of 2019. Import volumes last month came in 0.5 per cent higher than in May 2019.



"This trend has been consistent throughout the first four months of 2023, with import volumes showing a 1.3 per cent difference compared to the corresponding period in 2019," said the Descartes paper.



The report highlights persistent challenges affecting global supply chain performance in 2023, including labour relations on the west coast and increasing port delays that have returned to early 2023 levels.



Said Descartes vice president Chris Jones: "US container import volumes continue to climb and closely align with 2019 levels, with support from China, Vietnam, and other South and Southeast Asian countries."



Analysing individual port performance, the Port of Los Angeles recorded the highest overall container volume increase compared to April, with an addition of 56,226 TEU. Meanwhile, the Port of Tacoma achieved the highest percentage increase at 33.3 per cent on a month-to-month basis.



Chinese imports showed growth for the second consecutive month in May, rising by 5.1 per cent compared to April 2023, resulting in a total of 780,684 TEU. However, these figures still indicate a decline of 22.2 per cent from the peak reached in August 2022. Overall, China represented 37.2 per cent of the total US container imports in May, reflecting a 0.4 per cent increase from April 2023.