Imports at major US retail container ports may grow by 4.9 per cent during 2018 first half over the same period last year, according to the monthly Global Port Tracker report released recently by the National Retail Federation (NRF) and Hackett Associates. The 2018 retail sales will grow at 3.8-4.4 per cent over 2017’s $3.53 trillion, NRF had earlier said.
Cargo volume does not correlate directly with sales because only the number of containers is counted, not the value of the cargo inside, but offers a barometer of retailers’ expectations.
“We’re forecasting significant sales growth this year and that means retailers will have to import more merchandise to meet consumer demand,” an NRF press release quoted vice president for supply chain and customs policy Jonathan Gold as saying.
Ports surveyed handled 1.72 million twenty-foot equivalent units (TEU) in December. The total for 2017 was 20.5 million TEU, topping 2016’s record of 19.1 million TEU by 7.6 per cent. (DS)
Fibre2Fashion News Desk – India