Port of Oakland imports jump 10.4 percent in October 2020
The Port of Oakland said October imports grew 10.4 percent compared to October 2019. The Port also said containerized export volume was down 0.5 percent when compared to October 2019. Total TEUs for October were 216,686, up 5.8 percent compared to October 2019 when TEUs were 204,880, the company said in its release.
The Port attributed the jump in imports to the pandemic changing consumer spending habits. The Port said consumer products are driving the strong import performance from Asia. In turn, this is causing retailers to continue stocking up fearing a second wave of factory shutdowns.
Compared to last year, the first ten months of 2020 show full imports up 1.4 percent and full exports down 0.2 percent.
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.
