CargoFax Trade Insights
U.S. Import Report October 2024
November 07, 2024
November 07, 2024
CargoFax presents the U.S. maritime import report for October 2024. This report covers key metrics such as shipments, containers, TEUs, and total tonnage, comparing month-over-month (September 2024), year-over-year (October 2023), and year-to-date (January 1st - October 31st).
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 October 2024, total import shipments reached 2.68 million, reflecting a 52.4% increase from September. Container volumes mirrored this upward trend, increasing by 99% to 3.5 million containers. TEU volumes also increased 87.2%, with 5.44 million TEUs processed. Additionally, the weight of imported goods increased by 4.5%, totaling 58.15 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 64.6%. This rise is accompanied by notable increases in other metrics: TEU volumes rose by 38.1%, container counts increased by 46.2%, and the weight of imported goods saw a 2.3% increase, reflecting a positive trend across the board with varying growth rates.
For the year-to-date (YTD), U.S. maritime imports presented a positive trend compared to the same period in 2023. Shipments grew by 26.5%, totaling 19.1 million. Additionally, container volumes increased by 3.5%, reaching 23.6 million, while TEUs also saw a growth of 2.1%, with 38 million units recorded. Furthermore, total tonnage increased by 4.0%, totaling 598.6 billion KG.
| October '24 | Shipments (millions) | TEUs (millions) | Containers (millions) | KG (billions) |
|---|---|---|---|---|
| CM | 2.685 | 5.444 | 3.503 | 58.151 |
| CM vs PM | 0.923 | 2.536 | 1.743 | 2.522 |
| CM vs PY | 1.024 | 1.503 | 1.107 | 1.313 |
| CM vs PM % | 52.35% | 87.20% | 98.97% | 4.53% |
| CM vs PY % | 61.62% | 38.14% | 46.17% | 2.31% |
| Year to Date | Shipments (millions) | TEUs (millions) | Containers (millions) | KG (billions) |
|---|---|---|---|---|
| 2024 | 19.124 | 37.959 | 23.628 | 598.594 |
| 2023 | 15.123 | 37.182 | 22.831 | 575.776 |
| 2022 | 17.070 | 40.615 | 24.820 | 644.481 |
| '24 vs '23 | 4.001 | 0.777 | 0.797 | 22.818 |
| '24 vs '22 | 2.055 | (2.656) | (1.192) | (45.887) |
| '24 vs '23 % | 26.46% | 2.09% | 3.49% | 3.96% |
| '24 vs '22 % | 12.04% | (6.54%) | (4.80%) | (7.12%) |
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 9.1% of total imports. Plastics (HS-39) followed closely at 6.8%, and Machinery and mechanical equipment (HS-84) came in third with a 6.4% share.
Month-over-month, Plastics (HS-39), Textiles (HS-63), and Apparel (HS-62) recorded the most significant growth, rising by 209.6%, 154.4%, and 151.0%, respectively. In contrast, Cotton (HS-52) and Ores (HS-26) showed declines, dropping by 27.2% and 5.3%, respectively.
Additionally, Vegetable textile fibers (HS-53) saw a sharp 1,080% surge month-over-month, although its volume of 31.2K TEUs remained below the average 59.1K TEUs typically seen in most commodity chapters.
| Commodity Section | TEUS | Market Share % | CM vs PM (% ∆) | CM vs PY (% ∆) | |
|---|---|---|---|---|---|
| 1 | Textiles | 903,068 | 16.6% | 129.9% | 84.8% |
| 2 | Miscellaneous Articles | 848,429 | 15.6% | 85.5% | 39.3% |
| 3 | Machinery & Appliances | 622,244 | 11.4% | 54.7% | 8.9% |
| 4 | Base Metals | 513,002 | 9.4% | 92.4% | 35.2% |
| 5 | Transport Equipment | 500,080 | 9.2% | 51.8% | 10.2% |
| 6 | Plastics & Rubber Articles | 495,373 | 9.1% | 150.0% | 68.7% |
| 7 | Prepared Foodstuffs & Beverages | 285,255 | 5.2% | 60.3% | 24.8% |
| 8 | Chemical Products | 212,413 | 3.9% | 53.4% | 20.6% |
| 9 | Vegetable Products | 203,383 | 3.7% | 63.0% | 20.5% |
| 10 | Stone, Cement, & Glass | 195,408 | 3.6% | 68.9% | 26.8% |
| Other HS Sections | 665,730 | 12.2% | 31.5% | (0.3%) |
| Commodity Chapter | CM TEUs | Market Share % | CM vs PM (% Δ) | CM vs PY (% Δ) | |
|---|---|---|---|---|---|
| 1 | H5-94 | Furniture and home goods | 493,859 | 9.1% | 90.4% | 34.1% |
| 2 | H5-39 | Plastics and related articles | 372,333 | 6.8% | 209.6% | 103.4% |
| 3 | H5-84 | Machinery and mechanical equipment | 346,769 | 6.4% | 59.7% | 8.2% |
| 4 | H5-85 | Electrical machinery | 275,475 | 5.1% | 48.9% | 9.9% |
| 5 | H5-86 | Railway and locomotives and parts | 266,617 | 4.9% | 52.1% | 28.7% |
| 6 | H5-95 | Toys, games, and sports equipment | 261,028 | 4.8% | 72.5% | 40.3% |
| 7 | H5-63 | Other textile articles and clothing | 211,752 | 3.9% | 154.4% | 105.8% |
| 8 | H5-62 | Apparel and clothing accessories (not knitted) | 200,524 | 3.7% | 151.0% | 123.7% |
| 9 | H5-87 | Vehicles and their parts | 191,764 | 3.5% | 52.2% | (8.7%) |
| 10 | H5-61 | Apparel and clothing accessories (knitted) | 183,568 | 3.4% | 65.7% | 25.0% |
| Other HS Chapters | 2,640,696 | 48.5% | 64.9% | 24.2% |
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 55.2% of total U.S. TEU imports with over 3 million TEUs exported into the U.S. in October. South Korea and Vietnam followed, contributing 6.0% and 5.2%, respectively. Singapore and India completed the top five, with 2.8% and 2.5% shares.
China showed the most significant increase in imports to the U.S., with a 148.5% rise compared to the previous month.
| Country of Origin | CM TEUs | Market Share % | CM vs PM (% Δ) | CM vs PY (% Δ) | |
|---|---|---|---|---|---|
| 1 | China | 3,007,693 | 55.2% | 148.5% | 77.6% |
| 2 | South Korea | 329,054 | 6.0% | 34.3% | 7.4% |
| 3 | Vietnam | 282,052 | 5.2% | 57.8% | 18.3% |
| 4 | Singapore | 151,917 | 2.8% | 77.1% | 17.9% |
| 5 | India | 137,833 | 2.5% | 32.9% | 43.4% |
| 6 | Germany | 128,317 | 2.4% | 40.3% | (11.9%) |
| 7 | Taiwan | 113,243 | 2.1% | 35.1% | (8.3%) |
| 8 | Canada | 106,377 | 2.0% | 20.8% | 42.9% |
| 9 | Italy | 101,832 | 1.9% | 54.9% | 8.8% |
| 10 | Thailand | 95,211 | 1.7% | 54.1% | 36.3% |
| Other Countries | 990,856 | 18.2% | 23.0% | 2.6% |
The Port of Los Angeles and Long Beach led the nation in TEU volume, processing 1,498K and 1,310K TEUs, respectively. Both ports recorded significant increases compared to the previous month, with growth of 233.5% and 178.2%. The Port of New York and New Jersey followed, handling 602.1K TEUs, up 36.9% from the previous month. Savannah and Houston rounded out the top five ports, with 346.5K and 296.2K TEUs processed.
While most major ports saw a increase, a few ports experienced declines, including Boston, San Diego, and Portland. These ports averaged 8.3K TEUs and saw declines of 13.1%, 22.5%, and 59.2%, respectively.
| Port of Arrival | CM TEUs | Market Share % | CM vs PM (% Δ) | CM vs PY (% Δ) | |
|---|---|---|---|---|---|
| 1 | Los Angeles, California | 1,498,015 | 27.5% | 233.5% | 170.0% |
| 2 | Long Beach, California | 1,309,884 | 24.1% | 178.2% | 91.0% |
| 3 | New York/Newark | 602,104 | 11.1% | 36.9% | (7.3%) |
| 4 | Savannah, Georgia | 346,465 | 6.4% | 33.8% | 9.0% |
| 5 | Houston, Texas | 296,242 | 5.4% | 35.8% | (7.3%) |
| 6 | Norfolk, Virginia | 191,251 | 3.5% | 17.7% | (12.4%) |
| 7 | Tacoma, Washington | 189,181 | 3.5% | 26.3% | (7.0%) |
| 8 | Charleston, South Carolina | 174,252 | 3.2% | 23.8% | (12.0%) |
| 9 | Seattle, Washington | 146,705 | 2.7% | 10.3% | 11.5% |
| 10 | Oakland, California | 120,817 | 2.2% | 35.6% | 7.9% |
| Other Ports of Arrival | 569,469 | 10.5% | 40.6% | (10.2%) |
CMA led the market with a 22.7% share of total imports, handling 1,238.4K TEUs. ZIM and MSC followed with 12.6% and 12.0% shares, respectively. ZIM showed the largest growth in volume, with a 339.1% increase month-over-month.
The top five shipping lines accounted for 63.3% of total TEU volumes, while the top 10 captured 87% of the U.S. import market.
| Port of Arrival | CM TEUs | Market Share % | CM vs PM (% Δ) | CM vs PY (% Δ) | |
|---|---|---|---|---|---|
| 1 | Compagnie Maritime d'Affretement (CMA) | 1,238,357 | 22.7% | 207.0% | 146.7% |
| 2 | ZIM Navigation Co Ltd | 687,664 | 12.6% | 339.1% | 356.0% |
| 3 | MSC Mediterranean Shipping Company | 655,142 | 12.0% | 46.3% | 30.6% |
| 4 | Oratel Networks | 457,980 | 8.4% | 51.5% | (2.4%) |
| 5 | Maersk Line | 407,168 | 7.5% | 52.5% | (8.8%) |
| 6 | Hapag-Lloyd Container Line | 358,786 | 6.6% | 31.5% | (0.2%) |
| 7 | COSCO Container Lines Americas | 320,926 | 5.9% | 63.7% | 16.5% |
| 8 | Evergreen Line | 246,289 | 4.5% | 47.2% | 2.9% |
| 9 | Star Freight Solutions | 221,551 | 4.1% | 27.4% | 2.7% |
| 10 | Hyundai Merchant Marine | 144,895 | 2.7% | 57.6% | (9.0%) |
| Other Shipping Lines | 705,627 | 13.0% | 68.7% | 15.4% |
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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