Solid demand for holiday supplies has pushed up U.S. imports in advance of the shopping season, according to trade research firm Zepol and the National Retail Federation.
U.S. containerized imports were up 6 percent in the third quarter of 2015 compared to the same period last year, as retailers built up inventories for the holiday shopping season, according to trade research firm Zepol.
In August, U.S. imports totaled 1.86 million TEUs, an increase of 9 percent from August 2014, Minneapolis-based Zepol said in its latest blog. September volumes were up 3 percent to 1.78 million TEUs.
The figures dovetail with those calculated by Hackett Associates on behalf of the National Retail Federation, which reported 1.68 million TEUs in August at the top dozen U.S. ports, equivalent to a 10.4 percent increase from a year ago. The Port Tracker estimated September imports grew 2.1 percent to 1.61 million TEUs.
The NRF recently forecast 3.7 percent growth in holiday sales this year over last year’s busy season. The group’s Port Tracker report estimated 3.3 percent growth in container volume to 1.61 million TEUs for October as retailers make final preparations for the shopping season.
The strong dollar and solid job growth in the United States are likely helping to boost domestic demand for foreign goods, Zepol said.
Year-to-date, import volumes are up 5 percent through September to 15.3 million TEUs, despite the labor-related port slowdown on the West Coast at the start of the 2015.
Together, the ports of Los Angeles and Long Beach handled 38 percent of the holiday-related imports, according to the analytics firm.
Zepol relies on manifest and other data from U.S. Customs and Border Protection. The NRF’s actual TEU numbers are compiled from port authority counts of container moves and the estimates are calculated by Ben Hackett, a respected maritime economist, based on economic factors, industry trends and other analysis.
U.S. peak season imports exceed 2014 levels
