The Port of Oakland in October saw its largest volume of loaded exports in a single month so far this year with 68,974 TEUs, according to data released by the port Nov. 17.
The export amount is 4% more exports than in October 2022, a result of exporters returning to a less congested supply chain that had been disrupted by a pandemic-driven demand for imports.
“Our port remains the preferred export gateway for fruits, nuts, meats, and grains since we are the closest to agricultural areas in the Central Valley,” port Maritime Director Bryan Brandes said. “We also offer the fastest transit times to Asia since we are the last port of call in the U.S. before ships go back across the Pacific.”
However, loaded imports fell 8% year over year in the same month, the port said, adding that import volumes appeared to have remained around 70,000 TEUs per month.
“Import growth is expected to remain flat as traffic continues to stabilize after the significant spikes we saw during the pandemic years,” Brandes said. “Shipping rates remain low, and carriers are signaling that (that) will remain well into 2024.”
Consumer spending may have softened nationally, but it has been strong in Northern California, according to the port.
