The Port of Los Angeles moved 684,291 Twenty-Foot Equivalent Units (TEUs) in July as cargo shipments declined compared to last year’s record month.
“Global trade has eased as warehouse inventories of retailers and manufacturers remain elevated,” said Port of Los Angeles Executive Director Gene Seroka. “American consumers are continuing to spend and are likely to find more discounted items this year as we move into fall fashion and year-end holiday season.”
Seven months into 2023, the Port has processed 4,821,670 TEUs, about 24% less than the same period last year.