Trade at the top-ranked Port of Los Angeles is growing 48% faster than the national average this year, led by imports of computers and furniture.
That trade growth puts it on the cusp of a milestone for not only the Port of Los Angeles but all U.S. airports, seaports and border crossings.
While a great deal of Port of Los Angeles’ super-sized gains can be explained by the crushing collapse of U.S. trade in April of May of last year thanks to Covid-19, the Southern California port’s trade is nevertheless recovered that ground and more.
Through May, the most recent data available, Port of Los Angeles trade totaled $121.67 billion, a record pace and 7.27% above the 2018 record. The question: Will the pace continue through the end of the year?
Given that the port’s trade is currently better than 7% ahead of the 2018 record, it could not only fly by the $298.65 billion year-end total but also become the first U.S. port to ever top $300 billion in annual trade.
Given that 90% of the value of its trade is in imports, it is those imports that will be the determining factor.