US imports saw a drop of 11% in September, the lowest since 2020 lockdowns
Posted on October 17, 2022 |
- In September, the import volumes to all U.S. ports totaled 2,215,731 twenty-foot equivalent units fell year-on-year by 11%, and 12.4% from August.
- In September, imports fell by 12.4% to 313,311 TEU, which is the lowest since the 364,454-TEU plunge in February 2020 but are up 9% from September 2019, pre-COVID.
- Ports on all three coasts saw volumes drop compared to August as imports fell by 21.5% in Savannah, Georgia, from 285,341 TEUs to 223,966 TEUs.
- U.S. imports from China fell year-on-year by 22.7% totaling 820,329 TEUs and 18.3% from August, which accounted for 61.5% of last month’s drop.
- The supply chain crisis is not over yet as imports and consumer spending are still above pre-pandemic levels, rail congestion remains high, and import and empty container levels at terminals remain high.