Container traffic at the Port of Long Beach declined to 543,675 TEU in February, down 31.7 per cent from the same month last year.
Imports declined 34.7 per cent to 254,970 TEU and exports dropped 5.9 per cent to 110,919 TEU.
Empty containers moving through the port were down 38.3 per cent to 177,787 TEU.
According to the port statement, trade slowed down at the port due to full warehouses and reduced consumer spending.
The port also mentioned that trade typically declines in February due to the two week closure of east Asian factories during the Lunar New Year holiday.
Economists have claimed that shifts in trade routes and increased prices driven by inflation contributed to a decline in shipments as retailers continued to clear warehouses, reported the Port of Long Beach.
READ: Port of Long Beach misses yearly record
“Trade continues to normalise following the record-breaking cargo numbers we saw at the start of last year,” said Port of Long Beach Executive Director, Mario Cordero.
“We are investing in infrastructure projects that will keep us competitive as we collaborate with industry stakeholders to focus on trade volume.”
In February 2023, the Executive Director at the Port of Long Beach outlined the port’s plans to lower emissions at its first in-person State of the Port address since 2020.
