Container Imports Soar; Exports Remain Anemic

Ocean container imports jumped another 21.5 percent in July, following the robust increase of 15.9 percent in June. Container exports, on the other hand, fell in July by 5.8 percent, continuing the lackluster performance that has been observed all year.

According to Cass Information Systems, which issued the findings, “Many of our major trading partners are experiencing stalled or slowing economies and the strength of the U.S. Dollar versus other currencies is making U.S. goods more expensive in the export market.

Year over year, U.S. container exports are down more than 29 percent. In the last five months, the index levels for export containers have been below a previous six-year low, which was set last November. Compared to the beginning of 2015 export container shipments have fallen 27.7 percent.

There is concern that U.S. sellers—especially suppliers of agriculture products and food products such as meats—may have lost customers for good.

Cass further noted that “the global economy is also stumbling, with many countries experiencing contracting or stagnating economies. Export shipments fell to almost two-thirds of our top trading partners.”

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