For the fourth consecutive month, Port of Los Angeles cargo volume increased compared to the previous year, says an article published on the port of Angeles website.
Impressive Volume Surge
In November, the Port of Los Angeles processed a notable 763,262 Twenty-Foot Equivalent Units (TEUs), showcasing a remarkable 19% surge compared to the same month in the previous year.
Economic Strength Driving Growth
The sustained growth is attributed to the robust U.S. economy, fueled by strong consumer activity during key shopping events like Black Friday and Cyber Monday.
Acknowledgement of Stakeholder Efforts Port of Los Angeles Executive Director Gene Seroka commended the exceptional efforts of dockworkers and stakeholders, emphasizing the port’s market share gains and the ongoing commitment to operational efficiency and decarbonization.
Industry Insights
Kristin Morency Goldman from The Toy Association shared valuable industry insights, highlighting consumer trends such as the rising popularity of educational toys. She also noted a phenomenon termed “kidults,” where nearly 90% of adults purchase games or toys for other adults.
Cargo Breakdown
Loaded imports for November 2023 surged by 25% to 384,619 TEUs, loaded exports grew by 24% to 111,755 TEUs, and empty containers witnessed a 10% increase, reaching 266,888 TEUs.
Year-To-Date Overview
For the first eleven months of 2023, the Port has processed a cumulative total of 7,887,162 TEUs, reflecting a 14% decrease compared to the corresponding period in the previous year.
TEUs refer to Twenty-Foot Equivalent Units, a standard measure for cargo volume.
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Source: Port of angeles
