Amid geopolitical tensions and concerns about water levels in major canals, the United States is witnessing a significant surge in import container volumes, a trend expected to continue until the first half of 2024. In 2023, the total U.S. trade deficit decreased by 18.7%, driven by a 1.2% increase in exports and a 3.6% drop in imports.
In January 2024, Descartes Systems Group reported substantial month-over-month growth of 7.9%, with imports from China increasing by nearly 15%, primarily directed to ports in Los Angeles and Long Beach.
The National Retail Federation anticipates a strong start to 2024, forecasting a more than 5% increase in import container volumes for the first half of the year, with February expected to see a 20% gain.