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Asian container exports to US decline   28/09/2023

Outbound containers from 18 Asian countries and regions to the United States amounted to 1.68 million TEUs in August, plunging 13.9% from a year earlier and having registered a year-on-year contraction for 12 months in a row, according to the Japan Maritime Center (JMC).

In January-August period, Asian exports to US totalled 11.96 million TEUs, translating to a decrease of 20.2% year-on-year. Container movement on the route has been on a recovery track since the beginning of the year and reached this year's highest in August, the JOC said.

In the US, consumption is steady, but retail and housing-related products are not due to high inventory levels.

Looking at each country separately, China was responsible for 945,279 TEUs exports to the US, down 16.8%; South Korea reported 94,960 TEUs, down 8.7%, Taiwan exported 57,284 TEUs to the US, down 20%, and Japan reached 50,001 TEUs, down 6.5%

From ASEAN members, a total of 405,954 TEUs were exported to the US, representing a decline of 10.6%. More specifically, 204,373 TEUs were from Vietnam, down 11.5%, 80,705 TEUs from Thailand, down 8%; 42,113 TEUs from Indonesia, down 9%, and 33,009 TEUs from Malaysia, down 11.7%.

Exports from South Asia totaled 120,975 TEUs, representing a 2% drop, including 93,680 TEUs from India, down 3.9%.