Economic Growth Is Expected To Drive A Double-Digit Increase In Imports In 2017

According to the Global Port Tracker report from the National Retail Federation and Hackett Associates, the imports at the main retail container ports will have a double-digit growth compared to the same period last year for the next two month with the growing demand for affordable goods. Jonathan Gold, the NRF vice president for supply chain and customs policy, said that retailers are stocking up for the spring and summer seasons as consumers are spending more freely. He also said that merchants are ensuring that they are ready to meet the growing demand, and it’s necessary to import the affordable products as American families need. In addition, Ben Hackett, the Hackett Associates Founder, said that trade still keeps growing despite the treat of a border adjustment tax, withdrawal from the Trans-Pacific Partnership and a possible rewrite of the North American Free Trade Agreement.

Ports handled a total throughput of 1.67 million Twenty-Foot Equivalent Units in January. The imports from Asian factories like mattress protector manufacturers makes a big contribution to this before Lunar New Year shutdowns. The first half of 2017 is estimated at total 9.7 million TEU, with a growth of 7.4 percent from the first half of 2016. Due to the growth of job and income, 2017 retail sales will have a growth of 3.7%-4.2%, an acceleration compared to the 2016 year according to the NRF forecast.

The Estimated Twenty-Foot Equivalent Units For The First Half of 2017  (Unit Million)

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