by Calculated Risk on 9/23/2024 02:05:00 PM

Container traffic gives us an idea about the volume of goods being exported and imported - and usually some hints about the trade report since LA area ports handle about 40% of the nation's container port traffic.

The following graphs are for 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).

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

Click on graph for larger image.

On a rolling 12-month basis, inbound traffic increased 2.2% in August compared to the rolling 12 months ending in July.   Outbound traffic increased 0.3% compared to the rolling 12 months ending the previous month.

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

Usually imports peak in the July to October period as retailers import goods for the Christmas holiday, and then decline sharply and bottom in the Winter depending on the timing of the Chinese New Year.  

Imports were up 27% YoY in August, and exports were up 4% YoY.    

In general, it appears port traffic is returning to the pre-pandemic patterns - although this was a very strong August for imports as retailers prepare for holiday shopping - and possibly to beat any increase in tariffs or the potential strike.