Exports to the US from Asia grow in September

Containerized export volume from 10 major Asian economies to the United States reached 1.61 million TEU in September (based on volumes at ports of origin), up 5.2% over the same period last year. This is the first year-over-year improvement in 14 months, according to statistics compiled by Descartes Datamyne from Automated Commercial Environment (ACE) and bill-of-lading (B/L) data provided by the U.S. Customs and Border Protection (CBP).

China was the top exporter of goods for shipments to the US, with exports reaching 942,548 TEU, up 6%, the first annual increase in 13 months. The volume of exported goods from Vietnam and Singapore both increased, increasing by 0.2% to 153,604 TEU for Vietnam and especially increasing by 14.7% to 75,904 TEU for Singapore. In contrast, exports from South Korea, Taiwan and India were the opposite, decreasing by 0.7% to 162,331 TEU, 5.2% to 70,993 TEU and 2.3% to 70,096 TEU, respectively. Container volume from Japan increased by 61.1% to 44,545 TEU.

In the first 9 months of 2023, Asia's exports to the US totaled 12,861 million TEU, down 17.2%. This volume is slightly higher than the same nine months of the year before the pandemic in 2019.

Total US imports reached 2.22 million TEU in September (based on volumes at ports of origin), up 0.6%.
Meanwhile, the volume of imported goods by container from the US to 10 major countries and regions in Asia reached 431,302 TEU in August (based on volumes at ports of destination), down 5.6%.

Specifically, imports to China decreased by 1.1% to 129,507 TEU; to Japan decreased by 17.3% to 49,717 TEU; to Korea decreased by 21.8% to 42,044 TEU; to Taiwan decreased by 1.1% to 40,741 TEU; and into India, up 7% to 41,336 TEU.

During the period January to August 2023, 10 Asian countries imported a total of 3.6 million TEU, a decrease of 1.5%.

Source: Phaata.com (According to Japan International Freight Forwarders Association (JIFFA))

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