Containerized goods exports from Asia to the US continue to decline

Containerized cargo exports from the 10 major Asian economies to the US reached 1,473,191 TEUs in June (based on volume at loading ports), according to Descartes Datamyne statistics compiled from Automated Commercial Environment (ACE) and bill of lading (B/L) data provided by United States Customs and Border Protection (CBP). The volume fell 13% from a year ago, continuing an 11-month downtrend.

Exports from China fell 17% to 844,700 TEUs, marking the 10th consecutive month of decline. South Korea's exports fell 10.5% to 154,134 TEUs, while Vietnam's exports fell 6% to 147,107 TEUs and Taiwan's exports fell 3% to 78,480 TEUs. However, cargo volume from India increased 6% to 62,295 TEU and from Japan increased 0.8% to 33,319 TEU.

In addition, containerized cargo exports from Asia to the US reached 8,171,160 TEUs in the first half of the year, down 21.8 percent year-on-year.

In the first 6 months of 2023, China's exports to the US fell 25% to 4,652,731 TEUs, South Korea's exports fell 11% to 942,301 TEUs, Vietnam's exports fell 19.8% to 731,472 TEUs. Taiwan's exports fell 21% to 428,216 TEUs and Singapore's exports fell 10% to 376,802 TEUs. Japan's exports also slowed, falling 9% to 183,167 TEUs.

Source: Phaata.com (According to ContainerNews)

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