Import cargo volume increased again at the Port of Oakland last month as U.S. retailers restocked dwindling inventories. The Port said that containerized import shipments jumped 6.4 percent in July compared to 2019 totals. The step up followed a 1.9 percent increase in June.
The news was tempered by a 6.4 percent decline in July export volume compared to July 2019. Oakland export volume has now dropped in three consecutive months.
The Port attributed import gains to shippers resupplying warehouses after retrenching during early stages of the global coronavirus pandemic. Rising cargo volume was welcome in Oakland after four straight months of declines between February and June. But the Port cautioned against reading too much into the results.
The Port said dwindling exports could be the result of China’s efforts to bar waste product shipments. Scrap paper is one of the leading U.S. exports from West Coast ports including Oakland.
The Port said its year-to-date total cargo volume is down 5.8 percent from 2019. That’s due primarily to a nearly 10 percent drop in shipments of empty cargo containers back to origin destinations.
About the Port of Oakland
The Port of Oakland oversees the Oakland Seaport, Oakland International Airport, and nearly 20 miles of waterfront including Jack London Square. The Port's 5-year strategic plan - Growth with Care - pairs business expansion with community benefits, envisioning more jobs and economic stimulus as the Port grows. Together with its business partners, the Port supports more than 84,000 jobs.