Retail Imports on Track for Lowest Yearly Volume Since 2016: NRF

Imports at major U.S. retail container ports are on pace to finish 2020 with their lowest annual volume in four years, reported the National Retail Federation Monday. “Retailers are being careful not to import more than they can sell,” it said. “Shelves will be stocked, but this is not the year to be left with warehouses full of unsold merchandise.” U.S. ports handled 1.61 million 20-foot-long cargo containers or their equivalents in June, up 4.9% from May, but down 10.5% from June 2019, said NRF. It’s estimating July was down 10.2% year over year, and is forecasting monthly declines from 2019 will average 8.5% August through December. That would bring 2020 to 19.6 million containers, a 9.4% decline from 2019 and the lowest annual total since 19.1 million containers traveled through U.S. ports in 2016, said NRF.