Port officials noted that a rise in online purchases and aggressive efforts to transfer long-dwelling cargo off the docks bolstered trade moving through the Port during the first half of 2022, with monthly cargo records in January, February, March, April, June and July. And they added that consumer spending cooled by summer due to rising prices driven by inflation, while vessel transfers between the San Pedro Bay ports and a shift in imported goods toward the Gulf and East coasts contributed to a softening of cargo volume during the second half of 2022, with the easing returning the Port to normal operations by year’s end. Economists are forecasting a further decline in cargo volumes through 2023 as consumers shift their purchases to services over goods, they added.
POLA and POLB see solid December and 2022 volumes despite annual declines
