The Port of Los Angeles has experienced record-breaking exports for the second consecutive year, according to a press release.
Outbound container volume rose 14.5 per cent in 2011 compared with 2010, while imports also increased by 2.3 per cent and total annual volume, including empty containers, grew 1.4 per cent.
“We’re fortunate to have stronger year-over-year results in 2011 but we are not resting on our laurels as the nation’s premier trade gateway,” said Los Angeles Mayor Antonio Villaraigosa.
“That’s why we are investing US$1.5bn in capital improvements over the next five years. We’re going to create more than 20,000 construction jobs and keep infrastructure at the Port of Los Angeles unparalleled as we face a new competitive landscape.”
2011 was the port’s second straight year of record exports, which port executive director Geraldine Knatz said is an example of how the facility is prepared to handle a shift in global trade patterns.
“We continue to facilitate export opportunities through our nationally-recognized TradeConnect program while focusing our longer-term strategies on retaining and growing our position as the nation’s busiest container seaport,” Knatz explained.
In 2011 the port handled a total of 7,940,511 Twenty-Foot Equivalent Units (20ft containers or TEUs), compared with 7,831,902 TEUs in 2010.
Exports from the port rose 14.5 per cent to 2,109,394 TEUs in 2011, against 1,841,273 TEUs in the previous year.
Total year-over-year imports also increased 2.3 per cent to 4,066,763 TEUs in 2011 versus 3,973,933 TEUs during the prior year.
The port said it ended 2011 on a strong note, with December volume showing gains in all categories.
Exports increased 9.2 per cent (to 176,530 TEUs) in comparison to the previous December (161,625,000 TEUs).
Imports jumped 6.4 per cent (to 318,355 TEUs) compared with December 2010 (299,304 TEUs).
Total December volumes, including empties, increased 6 per cent to 649,468 TEUs compared with 612,651 TEUs in December 2010.
As part of President Obama’s National Export Initiative Agenda, which calls for a doubling of US exports over a five-year period, the Port of Los Angeles said it is continuing to focus on assisting businesses throughout the region to learn the basics of exporting, including costs, risks, finding overseas markets, trade financing and logistics.
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