The Port of Oakland saw export volumes rise by 10.8% in October, amidst reports that the US-China trade war could be easing.
Port of Oakland maritime director John Driscoll said: “Our export customers have demonstrated their resilience throughout this tariff standoff. For their sake, we hope the conflict is resolved and overseas business can grow even more.”
The port shipped 87,393 teu overseas in October with most of the volumes going to Asian markets including China – Oakland’s leading trade partner.
Over the first ten months of 2019, Oakland’s exports were up 3.5% over last year, despite increased tariffs.
The port authority attributed export growth to continued strong Asian demand for high-quality U.S. goods, especially farm products as well as increased shipments to neighbouring countries to counter Chinese volumes depressed by tariffs.
The West Coast port has welcomed indications that the US and China are progressing in talks to relieve trade tensions, noting its opposition to tariffs.
The easing of the trade conflict would be welcomed by both export and import customers, it added.
Oakland import volume declined 4.6% in October, though it remains up 2.7% for the full year. Total volume, which measures imports, exports and empty container repositioning, is unchanged year-to-date from 2018.