by Calculated Risk on 5/13/2011 04:39:00 PM

The first graph shows the rolling 12 month average of loaded inbound and outbound traffic at the ports of Los Angeles and Long Beach in TEUs (TEUs: 20-foot equivalent units or 20-foot-long cargo container). Although containers tell us nothing about value, container traffic does give us an idea of the volume of goods being exported and imported - and possible hints about the trade report for April. LA area ports handle about 40% of the nation's container port traffic.

Click on graph for larger image in graph gallery.

To remove the strong seasonal component for inbound traffic, this graph shows the rolling 12 month average.

On a rolling 12 month basis, inbound traffic is up 16% and outbound up 8%.

The 2nd graph is the monthly data (with strong seasonal pattern).

For the month of April, loaded inbound traffic was up 7% compared to April 2010, and loaded outbound traffic was up 8% compared to April 2010. Even with the decline in April, exports are near the pre-recession peak.

This suggests the trade deficit with China (and other Asians countries) probably increased in April.