Q1 Cargo Volumes Down at Port of Los Angeles

Image: Port of Los Angeles.

The amount of cargo that flowed through the Port of Los Angeles in the first three months of this year fell more than 30% from the same time period in 2022, which was the port’s busiest first quarter ever, according to new data released by the port April 12.

Los Angeles moved 1.83 million TEUs in Q1 2023, a 32% decrease from Q1 2022.

Meanwhile, the port handled 623,234 TEUs last month, with loaded imports tumbling 35% to 319,962 TEUs and loaded exports dropping 12% to 98,276 TEUs year over year.

The data also showed empty containers falling 42% to 204,996 TEUs year over year.

“Economic conditions slowed global trade considerably in the first quarter; however, we are beginning to see some signs of improvement, including nine consecutive months of inflation declines,” port Executive Director Gene Seroka said. “While March cargo volume was lower than last year at this time, early data and monthly growth indicates a moderate increase in Q3.”

By Karen Robes Meeks