Monthly Import Volume to Decline 16% on Average Through Summer, NRF Says
Imports at major U.S. retail container ports are expected to decline by double digits this spring and summer “as the economic effects of the coronavirus pandemic continue,” the National Retail Federation said May 8. Factories in China are “largely back…
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online” and stores that closed in the U.S. are starting to reopen, “but volume is far lower than what we would see in a ‘normal’ year,” NRF said. “Shoppers will come back and there is still a need for essential items, but the economic recovery will be gradual and retailers will adjust the amount of merchandise they import to meet demand.” U.S. ports handled 1.37 million 20-foot-long cargo containers or their equivalents in March, down 14.8% from a year earlier and the lowest monthly volume in four years, NRF said. It’s estimating April was down 13.4% from a year ago, and that the monthly declines will average nearly 16% through September.