WASHINGTON: US containerized importers will turn up the heat in the last two months of 2016 to restock for after the holiday shopping season, but inbound shipments will still end the year up only 2.2 percent compared to 2015. Imports in November will rise 4.4 percent year-over-year and inbound shipments will expand 4.5 percent the next month, according to the monthly Global Port Tracker, produced on behalf of the National Retail Federation by Hackett Associates. US imports fell 1.5 percent year-over-year in September, after surging 7.5 percent in October.
“Despite all the good economic news recently, we are faced with imports growing only about 2 percent this year,” Ben Hackett, founder of Hackett Associates, said. “Whether that is merely part of the aftermath of the Hanjin bankruptcy or a sign of weakening demand is not yet clear. Unless there is a major disruption, however, growth should be modest but sustained during the first half of 2017.”
Imports for all of 2016 will total 18.6 million twenty foot equivalent units, up 2.2 percent on the 2015 figure of 18.2 million, the report said. Imports in January will be 3.6 percent higher than the same month in 2016 and in February will be down 3.2 percent on last year, the report said. Imports in March will be up 4.6 percent on the same month in 2016.The report predicted that holiday says would total $655.8 billion, a 3.6 percent increase over last year.
“Retailers are importing more during the holidays this year than last year and that can only mean one thing – they expect to sell more,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Most of the holiday merchandise is already here, but retailers are still restocking to be sure shoppers will have a broad and deep selection as they hit the stores over the next several weeks.”
