Port of LA Breaks Record
For the second consecutive year, the Port of Los Angeles experienced record-breaking exports as outbound container volumes surged 14.5 percent in 2011 compared to 2010. Imports also increased 2.3 percent compared to the previous year. Total annual volumes, including empty containers, rose 1.4 percent. Complete statistics are available here.
“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 $1.5 billion 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 our second straight year of record exports and it’s an example of how our Port is prepared to handle a shift in global trade patterns,” said Port Executive Director Geraldine Knatz, Ph.D. “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.”
The Port handled a total of 7,940,511 Twenty-Foot Equivalent Units (20-foot containers or TEUs) in 2011 compared to 7,831,902 TEUs in 2010. Port exports rose 14.5 percent to 2,109,394 in 2011 compared to 1,841,273 in 2010. Total year-over-year imports increased 2.3 percent to 4,066,763 in 2011 versus 3,973,933 the prior year.
The Port ended 2011 on a strong note, with December volumes showing gains in all categories. Exports increased 9.2 percent (176,530 TEUs) compared to the previous December (161,625,000 TEUs). Imports jumped 6.4 percent (318,355 TEUs) compared to December 2010 (299,304 TEUs). Total December volumes, including empties, increased 6 percent to 649,468 TEUs compared to December 2010’s 612,651 TEUs.
As part of President Obama’s National Export Initiative Agenda, which calls for a doubling of U.S. exports over a five-year period, the Port continues to focus on assisting businesses throughout the region learn the basics of exporting, including costs, risks, finding overseas markets, trade financing and logistics. Export workshops occur throughout the year.
The Port of Los Angeles is America’s premier port and has a strong commitment to developing innovative strategic and sustainable operations that benefit the economy as well as the quality of life for the region and the nation it serves. As the leading seaport in North America in terms of shipping container volume and cargo value, the Port supports more than 830,000 regional jobs and $35 billion in annual wages and tax revenues. A proprietary department of the City of Los Angeles, the Port is self-supporting and does not receive taxpayer dollars.
