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U.S. container import volumes -Trajectory

U.S. container import volumes in March increased by 0.4% from February and over 15% from March 2023. The year-over-year gains are attributed to the timing of the Lunar New Year, which occurred nearly three weeks later this year compared to 2023. March 2024 saw the third-highest import volumes since 2019, trailing only the pandemic-induced surge in imports in 2021 and 2022.

Import Boost in First Half of March:

The first half of March experienced the strongest boost in imports, with total container imports over 22% higher than the previous year.

Domestic Impacts of Lunar New Year:

The timing of the Lunar New Year later in February led to impacts showing up domestically in the latter parts of March.

East Coast Ports’ Market Share:

Contrary to expectations, West Coast ports have not regained market share from East Coast ports. According to Descartes, the top five East Coast ports grew their market share during March and now control over 44% of the overall import market share.

Diversification of Supply Chains:

Overall, the top 10 ports have lost market share as supply chains have become more diversified in recent years.

diversified in recent years

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