The Georgia Ports Authority (GPA) has published container figures from the first quarter of the year.
New Georgia Ports Authority data shows that Georgia ports handled 1,184,387 twenty-foot equivalent container units (TEUs) in the first quarter of 2023. In March, 367,880 TEUs were handled, compared to 444,690 TEUs in the same month last year, representing a nearly 21% decrease in handling statistics.
When we compare Georgia Ports Authority data to other busy container ports in the U.S., we can see that the GPA is doing better.
For example, in March 2023, the Port of Los Angeles, one of the busiest container ports, handled 623,234 TEUs. It is a 35% decrease from the same month last year. In March 2023, the Port of Long Beach handled 603,878 TEUs, a 30% decrease from March 2022. The Port of New York and New Jersey handled 571,177 TEUs in February 2023, a 25% decrease from February 2022. The data shows that despite decreases in volumes across the board, the percentage decrease year-over-year was less for the Georgia Ports Authority than elsewhere.
Import and export handling numbers were expected to fall.
Because company warehouses were overstocked, major general merchandise retailers have reduced their orders compared to last year. This contributed significantly to current trade volumes and associated decreases. Furthermore, the loss of purchasing power caused by inflation and rising interest rates has reduced consumer spending. The Georgia Ports Authority was able to hold on in these circumstances.
U.S. import and export figures are expected to rise in the late second and early third quarters. The Georgia Ports Authority (GPA) will be able to handle more cargo, as they currently handle 14% of the loaded twenty-foot equivalent container units in the U.S.