A containerized export rally is underway at the Port of Oakland. The Port reported today that export volume increased 5.1 percent in May over the same period a year ago. It was the fifth-straight month of export gains in Oakland and the highest volume in 17 months.
The Port said that it shipped the equivalent of 83,969 loaded 20-foot export containers last month. That was the most since October 2014 when it shipped 86,065 boxes. The Port said that a slightly weaker dollar has contributed to the export rally. As the dollar’s value declines, U.S. goods become more affordable overseas.
“Export cargo is critical to our success. So naturally we’re encouraged by what we’ve seen so far in 2016.” – Jon Driscoll, Maritime Director
Oakland cargo volume traditionally has been weighted more toward exports than imports. Exports accounted for 52 percent of Oakland’s loaded container volume in 2016 through May, the Port reported. The Port said that year-to-date, Oakland export volume has increased 13.6 percent over 2015. Import volume is up, too, increasing 12.3 percent so far this year, the Port said. May imports increased 3 percent from May 2015 totals. The Port’s total container volume is up 8.4 percent so far this year. Total volume includes loaded import and export containers as well as empty containers.
The Port of Oakland oversees the Oakland seaport, Oakland International Airport, and 20 miles of waterfront. Together with its business partners, the Port supports more than 73,000 jobs in the region and nearly 827,000 jobs across the United States.