LOS ANGELES TRAFFIC INCREASED IN MARCH
The Port of Los Angeles reported that container traffic in March increased 12 percent over the year-earlier period, suggesting that trade with Asia hasn't suffered too much from a slowdown in U.S. manufacturing.
Import traffic rose 14 percent to 206,780 TEUs. Exports increased 6 percent to 88,237 TEUs. The import-export traffic disparity highlights why the U.S. continues to run record trade deficits, due in large part a huge directional trade imbalance with Asia.
“The March figures indicate that business is brisk for our customers and the Port of Los Angeles,” said Larry Keller, executive director.
Through eight months of its current fiscal year, Los Angeles has handled some 3.3 million TEUs.