U.S. container imports plunge 20% in first two months

Release time:

2022-07-28

According to a report released by Canadian logistics firm Descartes Systems Group on Thursday, March 9, U.S. seaborne container imports fell 20% in the first two months of the year, according to Wall Street News.

In January and February of this year, the total number of inbound U.S. containers in 20-foot equivalent units was 3.8 million, a significant decrease compared to 4.78 million in the same period in 2022, and basically the same level as the same period in 2019.

Descartes said container throughput from China, Japan and Germany declined the most.

The market sees the decline in container imports from the U.S. as an ominous sign, as some strategists believe a recession could begin in the second half of this year. In addition, the interest rate hikes that began last year are only just beginning to take effect in the U.S. economy and will strongly dampen economic activity in the coming months.

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