Merchandising

COVID-19 impact on imports easing up, claims NRF report

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June 9, 2020

While the COVID-19 impact to import is lessening, projected figures regarding imports are still below last year levels, according to a National Retail Federation report conducted with Hackett Associates.

The NRF's Global Port Tracker data indicates there is little chance of a swift return to economic boom times, according to a press release.

"The numbers we're seeing are still below last year, but are better than what we expected a month ago," NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said in the release. “It may still be too soon to say but we'll take that as a sign that the situation could be slowly starting to improve. Consumers want to get back to shopping, and as more people get back to work, retailers want to be sure their shelves are stocked."

"Imports are erratic, with one month up and the next down," Hackett Associates Founder Ben Hackett said in the release. "Getting 40 million people back to work will take time, especially with many fearful of catching the virus and staying home. That makes a rapid return to an economic boom unlikely."

U.S. ports handled 1.61 million 20-foot equivalent units in April, the latest month for which after-the-fact numbers are available. That is down 7.8% from a year ago, but up 17% from a four-year low in March and significantly better than the 1.51 million TEU previously expected. A TEU is one 20-foot-long cargo container or its equivalent.

Imports from April through September are expected to total 9.74 million TEU, a 3% improvement from the 9.46 million TEU expected a month ago.