Chinese New Year hits March US import boxes, but quarterly volume up
THE trade intelligence firm Zepol Corp has reported that US import volume in March fell 12.5 per cent year on year, largely due to the Chinese New Year falling later this year than in 2011.
Zepol said March volume hasn't been as low since 2009, but that first quarter volume was still marginally higher, up 0.1 per cent on the corresponding period in 2011.
"Inbound TEUs from China dropped by nearly 36 per cent from February, due to many Chinese factories shutting down for the holiday," Zepol said. "Likewise, imports from Vietnam, Taiwan, and Hong Kong saw significant drops in exports to the United States. On the other hand, Japan and India picked up some market share in March, with imports from both countries rising by 17 per cent each."