Cargo volumes at the Port of Oakland fell 12% year over year in October to 178,627 total TEUs, but is gaining back volumes in exports.
Loaded export were at 68,974 total TEUs, reflecting a 4% YoY increase — the highest seen in 2023, according to an emailed press release on Friday.
“Our port remains the preferred export gateway for fruits, nuts, meats, and grains since we are the closest to agricultural areas in the Central Valley,” Port of Oakland Maritime Director Bryan Brandes said in the press release.
Import containers processed at the Port of Oakland stood at 73,281 total TEUs, down 8% YoY compared to 79,459 total TEUs.
"Import growth is expected to remain flat as traffic continues to stabilize after the significant spikes we saw during the pandemic years," Brandes said. "Shipping rates remain low and carriers are signaling that will remain well into 2024."
Consumer spending is down and has somewhat declined since the heights of the pandemic, according to the release. Compared to 2019 levels, the port is seeing a decline of 13% in October of that year.