CargoFax Trade Insights
U.S. Import Report November 2024
December 09, 2024
December 09, 2024
CargoFax presents the U.S. maritime import report for November 2024. This report covers key metrics such as shipments, containers, TEUs, and total tonnage, comparing month-over-month (October 2024), year-over-year (November 2023), and year-to-date (January 1st - November 30th).
Additionally, the report highlights trends in commodities, trading partners, U.S. ports of entry, and shipping lines. Focusing exclusively on maritime imports, this analysis provides valuable insights into the dynamics of U.S. import flows.
It is important to note that the data can change as Bills of Lading amendments come in, and the information presented is not final; it represents all BOL that pass through federal agency records.
In November 2024, total import shipments reached 2.54 million, reflecting a (5.6%) decrease from October. Container volumes mirrored this downward trend, decreasing by (4.9%) to 3.3 million containers. TEU volumes also decreased (6.3%), with 5.1 million TEUs processed. Additionally, the weight of imported goods increased by 31.6%, totaling 76.53 billion kilograms. These figures indicate a general growth in U.S. maritime import activity for the month.
Compared to the previous year, import shipments grew 71.9%. This rise is accompanied by significant increases in other metrics: TEU volumes rose by 41.4%, container counts increased by 50.9%, and the weight of imported goods saw a 34.9% increase.
For the year-to-date (YTD), U.S. maritime imports presented a positive trend compared to the same period in 2023. Shipments grew by 30.5%, totaling 21.7 million. Additionally, container volumes increased by 7.7%, reaching 26.9 million, while TEUs also saw a growth of 5.6%, with 43 million units recorded. Furthermore, total tonnage increased by 6.7%, totaling 675.1 billion KG.
| November '24 | Shipments (millions) | TEUs (millions) | Containers (millions) | KG (billions) |
|---|---|---|---|---|
| CM | 2.536 | 5.100 | 3.331 | 76.530 |
| CM vs PM | (0.149) | (0.344) | (0.172) | 18.379 |
| CM vs PY | 1.060 | 1.492 | 1.123 | 19.806 |
| CM vs PM % | (5.6%) | (6.3%) | (4.9%) | 31.6% |
| CM vs PY % | 71.9% | 41.4% | 50.9% | 34.9% |
| Year to Date | Shipments (millions) | TEUs (millions) | Containers (millions) | KG (billions) |
|---|---|---|---|---|
| 2024 | 21.660 | 43.059 | 26.959 | 675.124 |
| 2023 | 16.598 | 40.790 | 25.039 | 632.500 |
| 2022 | 18.515 | 44.124 | 26.983 | 696.594 |
| '24 vs '23 | 5.061 | 2.269 | 1.920 | 42.624 |
| '24 vs '22 | 3.145 | (1.065) | (0.024) | (21.470) |
| '24 vs '23 % | 30.5% | 5.6% | 7.7% | 6.7% |
| '24 vs '22 % | 17.0% | (2.4%) | (0.1%) | (3.1%) |
In the following sections, we’ll focus primarily on TEUs as the key metric of analysis. However, if you’re interested in exploring additional dimensions like shipments, containers, or tonnage, CargoFax offers comprehensive access to these metrics and much more through our subscription plans.
Dive deeper into the data for detailed insights that can help optimize your business strategies.
Grouping commodities by HS chapters, Furniture (HS-94) ranked as the top imported commodity, representing 9.2% of total imports. Machinery and mechanical equipment (HS-84) followed closely at 6.6%, and Plastics (HS-39) came in third with a 6.5% share.
Month-over-month, Mineral fuels (HS-27), Aluminum (HS-76), and Adult Beverages (HS-22) recorded the most significant growth, rising by 15.4%, 7.7%, and 6.6%, respectively. In contrast, Toys (HS-95) and Textiles (HS-61) showed declines, dropping by (25.8%) and (19.7%), respectively.
Additionally, Ores, slag and ash (HS-26) saw a significant 50.6% increase month-over-month, although its volume of 2.1K TEUs remained below the average 55.3K TEUs typically seen in most commodity chapters.
| Commodity Section | TEUS | Market Share % | CM vs PM (% ∆) | CM vs PY (% ∆) | |
|---|---|---|---|---|---|
| 1 | Textiles | 816,723 | 15.2% | (9.6%) | 111.5% |
| 2 | Miscellaneous Articles | 749,791 | 14.0% | (11.6%) | 35.2% |
| 3 | Machinery & Appliances | 596,071 | 11.1% | (4.2%) | 12.3% |
| 4 | Base Metals | 497,607 | 9.3% | (3.0%) | 46.0% |
| 5 | Transport Equipment | 466,322 | 8.7% | (6.8%) | 6.6% |
| 6 | Plastics & Rubber Articles | 448,696 | 8.4% | (9.4%) | 62.2% |
| 7 | Prepared Foodstuffs & Beverages | 294,938 | 5.5% | 3.4% | 30.3% |
| 8 | Chemical Products | 217,094 | 4.0% | 2.2% | 28.4% |
| 9 | Vegetable Products | 196,563 | 3.7% | (3.4%) | 21.7% |
| 10 | Stone, Cement, & Glass | 195,883 | 3.7% | 0.2% | 32.9% |
| Other HS Sections | 620,535 | 12.2% | (6.8%) | 64.5% |
| Commodity Chapter | CM TEUs | Market Share % | CM vs PM (% Δ) | CM vs PY (% Δ) | |
|---|---|---|---|---|---|
| 1 | H5-94 | Furniture and home goods | 471,164 | 9.2% | (4.6%) | 26.1% |
| 2 | H5-84 | Machinery and mechanical equipment | 338,376 | 6.6% | (2.4%) | 11.5% |
| 3 | H5-39 | Plastics and related articles | 331,215 | 6.5% | (11.0%) | 93.4% |
| 4 | H5-85 | Electrical machinery | 257,695 | 5.1% | (6.5%) | 13.4% |
| 5 | H5-86 | Railway and locomotives and parts | 242,774 | 4.8% | (8.9%) | 19.0% |
| 6 | H5-63 | Other textile articles and clothing | 204,854 | 4.0% | (3.3%) | 107.5% |
| 7 | H5-95 | Toys, games, and sports equipment | 193,634 | 3.8% | (25.8%) | 50.6% |
| 8 | H5-87 | Vehicles and their parts | 184,568 | 3.6% | (3.8%) | (6.3%) |
| 9 | H5-62 | Apparel and clothing accessories (not knitted) | 165,823 | 3.3% | (17.3%) | 149.6% |
| 10 | H5-61 | Apparel and clothing accessories (knitted) | 147,390 | 2.9% | (19.7%) | 75.4% |
| Other HS Chapters | 2,562,730 | 50.2% | (3.0%) | 46.2% |
For detailed insights into which commodities were imported by specific companies or countries, the complete dataset is available through a CargoFax subscription.
China remained the dominant country of origin, accounting for 53.3% of total U.S. TEU imports with over 2.7 million TEUs exported into the U.S. in November. South Korea and Vietnam followed, contributing 6.8% and 5.1%, respectively. Germany and India completed the top five, with 3.0% and 2.5% shares.
Mexico showed the most significant increase in imports to the U.S., with a 24.7% rise compared to the previous month.
| Country of Origin | CM TEUs | Market Share % | CM vs PM (% Δ) | CM vs PY (% Δ) | |
|---|---|---|---|---|---|
| 1 | China | 2,717,073 | 53.3% | (9.7%) | 85.6% |
| 2 | South Korea | 349,077 | 6.8% | 6.1% | 8.2% |
| 3 | Vietnam | 260,215 | 5.1% | (7.7%) | 20.4% |
| 4 | Germany | 151,752 | 3.0% | 18.3% | 17.1% |
| 5 | India | 127,099 | 2.5% | (7.8%) | 29.3% |
| 6 | Singapore | 122,733 | 2.4% | (19.2%) | 8.5% |
| 7 | Taiwan | 121,879 | 2.4% | 7.6% | 17.9% |
| 8 | Italy | 104,686 | 2.1% | 2.8% | 4.5% |
| 9 | Belgium | 88,942 | 1.7% | 19.0% | 24.9% |
| 10 | Mexico | 86,950 | 1.7% | 24.7% | 34.3% |
| Other Countries | 969,817 | 19.0% | (19.6%) | 24.3% |
The Port of Los Angeles and Long Beach led the nation in TEU volume, processing 1,379K and 1,128K TEUs, respectively. Both ports recorded decreases compared to the previous month, with a decline of (8.0%) and (13.9%). The Port of New York and New Jersey followed, handling 533.4K TEUs, down (11.4%) from the previous month. Savannah and Houston rounded out the top five ports, with 328.4K and 306.6K TEUs processed.
While most major ports saw a decrease, a majority of ports experienced growth month over month, including Tacoma, Boston, West Palm Beach, and Baltimore. These ports averaged 81.1K TEUs and saw increases of 15.8%, 17.9%, 41.3%, and 45.5%, respectively.
| Port of Arrival | CM TEUs | Market Share % | CM vs PM (% Δ) | CM vs PY (% Δ) | |
|---|---|---|---|---|---|
| 1 | Los Angeles, California | 1,378,659 | 27.0% | (8.0%) | 124.6% |
| 2 | Long Beach, California | 1,127,672 | 22.1% | (13.9%) | 81.0% |
| 3 | New York/Newark | 533,364 | 10.5% | (11.4%) | (3.5%) |
| 4 | Savannah, Georgia | 328,382 | 6.4% | (5.2%) | 7.8% |
| 5 | Houston, Texas | 306,598 | 6.0% | 3.5% | 41.2% |
| 6 | Tacoma, Washington | 219,045 | 4.3% | 15.8% | 14.1% |
| 7 | Norfolk, Virginia | 178,982 | 3.5% | (6.4%) | (6.9%) |
| 8 | Charleston, South Carolina | 166,202 | 3.3% | (4.6%) | 3.7% |
| 9 | Seattle, Washington | 142,943 | 2.8% | (2.6%) | 15.3% |
| 10 | Oakland, California | 117,682 | 2.3% | (2.4%) | 8.3% |
| Other Ports of Arrival | 600,514 | 11.8% | 4.7% | 0.2% |
CMA led the market with a 21.2% share of total imports, handling 1,078.9K TEUs. MSC and ZIM followed with 12.7% and 11.4% shares, respectively. Tropical Shipping showed the largest growth in volume, with a 45.4% increase month-over-month.
The top five shipping lines accounted for 61.6% of total TEU volumes, while the top 10 captured 86.8% of the U.S. import market.
| Shipping Lines | CM TEUs | Market Share % | CM vs PM (% Δ) | CM vs PY (% Δ) | |
|---|---|---|---|---|---|
| 1 | Compagnie Maritime d'Affretement (CMA) | 1,078,888 | 21.7% | (12.9%) | 146.7% |
| 2 | MSC Mediterranean Shipping Company | 646,860 | 12.7% | (1.3%) | 21.8% |
| 3 | ZIM Navigation Co Ltd | 583,638 | 11.4% | (15.1%) | 360.9% |
| 4 | Oratel Networks | 438,223 | 8.6% | (4.3%) | 2.3% |
| 5 | Maersk Line | 395,906 | 7.8% | (2.8%) | (8.5%) |
| 6 | Hapag-Lloyd Container Line | 346,521 | 6.8% | (3.4%) | 14.7% |
| 7 | COSCO Container Lines Americas | 318,842 | 6.3% | (0.6%) | 24.3% |
| 8 | Evergreen Line | 245,973 | 4.8% | (0.1%) | 11.2% |
| 9 | Star Freight Solutions | 215,475 | 4.2% | (2.7%) | 7.6% |
| 10 | Hyundai Merchant Marine | 155,980 | 3.1% | 7.7% | 15.1% |
| Other Shipping Lines | 673,917 | 13.2% | (4.2%) | 25.7% |
Looking for in-depth insights from this dataset? Whether you're interested in researching individual importers or exporters, analyzing particular trade routes, reviewing specific bills of lading, or understanding your current suppliers' trade network—CargoFax has you covered with exclusive data.
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