Cargo volumes at the Port of Los Angeles rose 19% year over year to 763,262 total TEUs in November, making it the highest YoY increase in 2023.
“Our year-end growth reflects the strength of the U.S. economy powered by the American consumer,” Port of Los Angeles Executive Director Gene Seroka said in a Wednesday media briefing. “Black Friday and Cyber Monday sales were strong, and the forecast for overall holiday sales is 3 to 4% above last year, another high mark.”
The port’s loaded imports and exports as well as empties also continue to grow, with a 25%, 24% and 10% YoY increase in November, respectively.
For empties, this is the first YoY growth in 16 months, as shippers and carriers strategically position their assets for the upcoming months of imports, Seroka said.
