Presenting the Port of Los Angeles February figures Port of Los Angeles Executive Director Gene Seroka said: “The ratio of loaded imports to exports reached 4:1 one of the highest levels we’ve seen at the port of Los Angeles.”
Loaded imports continued to surge coming at 412,884 teu in February up 52.9% year-on-year as the onset of the Covid-19 pandemic hammered global trade in February 2020.
“Today we are in the seventh month of a historic import surge driven by unprecedented demands by American consumers,” Seroka said.
However, looking at exports the picture is starkly different with Seroka describing the loaded export figure of 101,208 teu for February 2020 as “paltry”. The number of loaded exports was down 24.7% year-on-year.
“The last time the Port of Los Angeles was under 100,000 teu exported was February 2006, fifteen years ago,” he stated.
Meanwhile the export of empty containers soared 104.4% year-on-year to 285,223 teu in February 2021.
“The lob-sided trade imbalance we are witnessing is now at historic levels,” Seroka commented.
Watch the full briefing below:
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