LOS ANGELES: At the adjacent port of Long Beach, Calif., the nation’s second-largest for container traffic, import volume also fell in October—a decline of 0.8% from the same month last year and a steep 14% decline from Long Beach’s peak month of August. In Oakland, Calif., another major port on the West Coast, imports were down 3.3% year-over-year in October and 14% from August to October of this year.
The early jump in imports and slow October numbers have been attributed in part to extreme congestion during labor negotiations last fall and early this year at the West Coast ports. Since the congestion has subsided, many shippers found themselves with high inventories and have less need to import goods to replenish their supplies.
Strong consumer spending over the holidays would help reduce the inventory overhang. The National Retail Federation predicted earlier this week that November could see another import surge as retailers restock the merchandise they expect to sell during the holiday rush.
For January through October of this year, loaded imports to Los Angeles were down 3% over same period last year. Loaded exports were down 15% so far for the year, due largely to the strength of the U.S. Dollar and weaker demand from abroad.
