Asia-US container exports continue to decline

Port of Shanghai

Container exports from ten major Asian economies to the United States reached 1,473,191 TEUs in June (based on volumes at ports of loading), according to Descartes Datamyne statistics compiled from Automated Commercial Environment (ACE) and bill-of-lading (B/L) data provided by the United States Customs and Border Protection (CBP).

They fell 13% from a year ago, continuing an 11-month decreasing trend, while they were steady with the previous month’s levels.

Exports from China were down by 17% reaching 844,700 TEUs, marking the tenth consecutive month of decline. South Korean exports fell 10.5% to 154,134 TEUs, while Vietnamese exports decreased by 6% to 147,107 TEUs and Taiwan exports fell 3% to 78,480 TEUs. Shipments from India, on the other hand, increased 6% to 62,295 TEUs, while those from Japan picked up 0.8% to 33,319 TEUs.

Additionally, container exports from Asia to the United States reached 8,171,160 TEUs in the first half of the year, translating to a 21.8% decrease year on year.

In the first six months of 2023, China’s exports to the US declined by 25% to 4,652,731 TEUs, South Korea’s exports fell by 11% to 942,301 TEUs, Vietnam’s exports dropped by 19.8% to 731,472 TEUs, Taiwan’s exports decreased by 21% to 428,216 TEUs, and Singapore’s exports were down by 10% to 376,802 TEUs. Japan’s exports were also slow, falling 9% to 183,167 TEUs.

Sources: Container News