Imports rose in January 2023, but quickly went down in February 2023.
What does the next few months have in store for supply chain and the logistics industry?
Unfortunately, it’s hard to say, but what we do know is that imports increased by 7.2% at the beginning of the year. However, the metrics are still down compared to 2019 and early 2020 data. The good news is that in January 2023 US logged the highest monthly gain since May 2022, the bad news is – the statistics are almost the same as the metrics from before the COVID-19 pandemic, 4 years ago.
According to Port Trucker there are even worse news – February will be the slowest month for many Shipping Companies, this prediction is based on the metrics not looking great since the beginning of the month. To quote Jonathan Gold, the NRF’s vice president for supply chain and customs policy – “February is traditionally a slow month, but these are the lowest numbers we’ve seen in almost three years’’.
The levels of uncertainty about the future of imports in 2023 are almost the same as at the beginning of the pandemic in 2022. In many ways January and February are similar to 2020, when the economy shut down as a result of the pandemic and many companies were unsure of what’s going to happen next. Now the economy is slowly coming back to normal, but the uncertainty surrounding the future is almost the same as it was in 2020. This is a challenging time for supply chain and the whole logistics industry, but it’s crucial to remember that the predictions are based on key, but ever-changing factor – the economy.
On a more positive note – the experts predict that the next months, especially March-June will show a huge growth in metrics when it comes to imports. Experts predict that the amount of imports in March will be above the 2019-2018 levels.
Speak to our Agents at Trans Global Auto Logistics today to find out more information and book your place as soon as possible to ensure the shipment will arrive at its destination on time.
