The Port of Los Angeles moved 684,291 Twenty-Foot Equivalent Units in July as cargo shipments declined compared to last year’s record month, officials announced Wednesday.
For July, loaded imports landed at 364,208 TEUs, down 25% compared to the previous year. Loaded exports came in at 110,372 TEUs, an increase of 6% compared to last year.
“Global trade has eased as warehouse inventories of retailers and manufacturers remain elevated,” the port’s Executive Director Gene Seroka said in a statement. “American consumers are continuing to spend and are likely to find more discounted items this year as we move into fashion and year-end holiday season.”
The port processed 209,710 empty TEUs, a 39% year-over-year decline. Overall, July volumes were 684,291 TEUs, a 27% year-over-year decline.
Seven months into 2023, the port has processed 4,821,670 TEUs, about 24% less than the same period last year, according to port officials.