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US-Asia container trade on a record-breaking track
The container imports of the United States from 10 major Asian economies reached 1.72 million TEUs in November, marking a year-on-year increase of 15.3% and setting a new November record, according to data from Descartes Datamyne based on US Customs and Border Protection (CBP) statistics.
Dr.G.R.Balakrishnan Dec 18 2024 Container Terminal News

US-Asia container trade on a record-breaking track

However, compared to October, import volumes declined by 6.6%. For the first 11 months of 2023, imports totalled 18.59 million TEUs, translating to an increase of 16.4%, nearing the record set during the same period in 2021. Overall, US container imports in November stood at 2.39 million TEUs, up 14.3% year-on-year.

Imports by Origin

Among the 10 Asian economies, the largest contributors to the US imports were: China: 983,573 TEUs (+15.8%)South Korea: 193,858 TEUs (+10.9%)Vietnam: 177,978 TEUs (+20.5%)India: 81,384 TEUs (+29.5%)Taiwan: 76,978 TEUs (+19.3%) and Japan (8th largest): 37,216 TEUs (+6.5%)

Exports to Asia

Meanwhile, US container exports to the 10 Asian economies totalled 464,131 TEUs in October, representing a 2.1% decrease from September and a slight 0.3% drop from October 2023. Key export destinations included: China: 105,746 TEUs (-22.1%) South Korea: 65,203 TEUs (+36.6%) Vietnam: 49,748 TEUs (+22.2%) Indonesia: 48,792 TEUs (+12.1%) and Japan: 47,374 TEUs (-2.3%)

These statistics reflect robust US-Asia trade flows, with imports maintaining strong year-on-year growth despite recent month-to-month fluctuations.