American Consumers Drive Year-End Growth

SAN PEDRO, Calif. – Dec. 13, 2023 – For the fourth consecutive month, Port of Los Angeles cargo volume increased compared to the previous year. The Port processed 763,262 Twenty-Foot Equivalent Units (TEUs) in November, a 19% improvement compared to last year.
“Our year-end growth reflects the strength of the U.S. economy powered by the American consumer,” Port of Los Angeles Executive Director Gene Seroka said at a media briefing. “Black Friday and Cyber Monday sales were strong, and the forecast for overall holiday sales is 3 to 4% above last year, another high mark.  
“Thanks to the outstanding efforts of our dockworkers and other stakeholders, we’ve gained market share in recent months,” Seroka added. “We’ll continue those efforts into 2024 as we work toward maximizing our operational efficiencies and decarbonizing our port complex.”
At the briefing, Kristin Morency Goldman of The Toy Association shared the latest consumer trends in the industry, including the popularity of educational toys. She noted research indicated nearly 90% of adults will buy games or toys for other adults, a phenomenon she described as purchasing for “kidults.”  
November 2023 loaded imports landed at 384,619 TEUs, an increase of 25% compared to the previous year. Loaded exports came in at 111,755 TEUs, an increase of 24% compared to 2022. Empty containers totaled 266,888 TEUs, a 10% increase compared to last year. 
Eleven months into 2023, the Port has processed 7,887,162 TEUs, 14% less than the same period last year. Current and historical cargo data, including fiscal year-end totals, are available here.