US Asian imports fall in May after April dip, no pick-up seen till August
US IMPORTS from Asia fell 18
US IMPORTS from Asia fell 18.5 per cent year on year in May, projecting trade volume to 2021 down 7.9 per cent, according to data from PIERS and GTA Forecasting.
That followed year-on-year declines of 1.7 per cent in April, 18.3 per cent in March, 11.5 per cent in February and 2.9 per cent in January, reported IHS Media.
Non-vessel-operating common carriers (NVOs) in late May said the surge of imports the previous two weeks would likely be short-lived, with peaks and valleys in imports from Asia continuing throughout 2020.
Cancelled sailings indicated imports would be slow this summer before picking up in August, the beginning of the peak-shipping season, said the report.
GTA Forecasting projects that US imports from Asia in calendar year 2020 will decline 7.6 per cent from 2019, but rebound sharply in 2021 with an 8.3 per cent increase. Imports from Asia in 2019 declined 4.7 per cent from 2018, and this year are down 9.2 per cent through May from the same period last year.
Global Port Tracker, which is published monthly by the National Retail Federation, forecasts a disappointing peak-shipping season in the eastbound transpacific trade. The report projected that containerised imports will decline 12.9 per cent year on year in August, 11.3 per cent in September, and 7.9 per cent in October.
Most merchandise imports must arrive in the US by early November to make Christmas sales.