U.S-bound May imports continue to grow, reports S&P Global Market Intelligence
United States-bound containerized freight imports saw continued growth in May, according to data recently issued by S&P Global Market Intelligence.
May imports, at 2.70 million TEU (Twenty-Foot Equivalent Units), rose 11% annually, following April’s 8% annual gain, with growth intact for the ninth consecutive month, following a 14-month stretch of annual declines. Total first quarter imports were up 11% annually.
On a year-to-date basis through the first five months of 2024, total U.S.-bound imports, at 12.77 million TEU, posted a 13% annual increase, over May 2023’s 11.33 million TEU tally. What’s more, for the same period in 2021 and 2022, imports each came in at 13.6 million TEU, respectively.
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