Home / Knowledge / News / Textiles / US imports lower than last year, but expected to rise
US imports lower than last year, but expected to rise
12
May '16
Import cargo volume at America's major retail container ports is expected to be at some of its highest levels ever during the next few months despite a fall from last year's record-setting numbers, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates on Tuesday.

“Retailers are importing less merchandise than last year but these are still some of the highest numbers we've ever seen,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Carefully managing imports will balance out high inventory levels but consumers can still expect to see a deep and broad selection of products.”

Ports covered by Global Port Tracker handled 1.32 million Twenty-Foot Equivalent Units in March, the latest month for which after-the-fact numbers are available. That was down 14.2 per cent from February, partly because of a carryover from Chinese New Year factory closings. It was also down a dramatic 23.7 per cent from the all-time record high set in March 2015 after a new contract with dockworkers ended a near-shutdown at West Coast ports and brought a flood of backlogged cargo through the ports. One TEU is one 20-foot-long cargo container or its equivalent.

April was estimated at 1.5 million TEU, down 0.8 per cent from the same month last year, when 2015's unusual pattern of cargo volumes started to stabilize. May is forecast at 1.57 million TEU, down 2.7 per cent from last year; June at 1.56 million TEU, down 0.8 per cent; July at 1.61 million TEU, down 0.6 per cent; August at 1.62 million TEU, down 3.7 per cent, and September at 1.56 million TEU, down 3.9 per cent.

The 1.73 million TEU seen in March 2015 broke a previous record of 1.59 million TEU set in September 2014, and was followed by numbers as high as 1.68 million TEU before last year's unusually patterns settled down. But this year's forecast peak of 1.62 million TEU in August would still be among the six highest months on record.

The first half of 2016 is expected to total 9 million TEU, up 1.4 per cent from the same period in 2015. Total volume for 2015 was 18.2 million TEU, up 5.4 per cent from 2014.

Hackett Associates Founder Ben Hackett said the decreased imports reflect both high inventory levels and slow growth in consumer spending in recent months.

“Consumer spending is still growing but not as fast as in the past,” Hackett said. “A more cautious approach is being taken.”

Global Port Tracker, which is produced for NRF by the consulting firm Hackett Associates, covers the US ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Hampton Roads, Charleston, Savannah, Port Everglades and Miami on the East Coast, and Houston on the Gulf Coast. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

'Sportswear is much more mainstream than earlier'

Fashion | On 20th Jul 2018

'Sportswear is much more mainstream than earlier'

The business of sportswear has evolved at a fast pace over the years. ...

Courtesy: YKK

Textiles | On 20th Jul 2018

Japanese firm YKK explores opening office in Uzbekistan

Japanese company YKK recently discussed with the Uztuqimachiliksanoat ...

HFPA alerts member firms on latest US tariff announcement

Textiles | On 20th Jul 2018

HFPA alerts member firms on latest US tariff announcement

The US Home Fashion Products Association (HFPA) has alerted its...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Urmil Arya

Sushila International, a well established textile organisation established ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search