Container exports from Asia to the US plunge in May

16/06/2023

Container exports from 10 major Asian economies to the United States reached 1,474,872 TEUs in May, based on volumes at ports of origin where container carriers are loaded with shipments, according to statistics compiled by Descartes Datamyne from Automated Commercial Environment (ACE) and bill-of-lading (B/L) data provided by the US Customs and Border Protection (CBP).

This figure is 20% lower than the same month in 2022, but it is higher by 5.2% from the previous month.

Exports from Asia severely decreased year on year across the board. Those from China decreased by 18.8% to 862,170 TEUs; from South Korea, 17.5% to 154,937 TEUs; from Vietnam, 24.3% to 140,035 TEUs; from Taiwan, 29.9% to 70,877 TEUs; and from India, 24.7% to 65,092 TEUs. Containers from Japan plummeted 20.7% to 28,208 TEUs.

In the first five months of the year, they suffered a double-digit contraction of 23.5%, aggregating 6,702,041 TEUs.

Meanwhile, container imports to the United States totalled 2,105,259 TEUs last month, which shrank 18.8% with those from Asia accounting for 70%.

Source: Container News