The Truth About Freight Forwarding & Logistics Data - 05/17/2023
By: Faith LeMasters
There are many headlines circulating at the moment about a "drastic decline" in shipping volume, but is there any truth to this? Yes and no. It's a bit more nuanced than the headlines might lead you to believe. This year's numbers are being directly compared against last year, which was a historically successful year for the supply chain and shipping industries at large. With society slowly returning to its old ways as the pandemic has become more contained, it is more statistically honest to note this year's numbers in comparison to 2018 or 2019. For example, the Port of Long Beach reported a 22% decline this year in comparison to LY. However, in comparison to previous years, shipping volume has remained stagnant, and in most cases, has seen some improvement. Additionally, it's important to note that the numbers have been improving YTD since February. So, while it will be difficult to compete with the past few years when making year-to-year comparisons, this supposed "decline" in shipping is simply a return to expected numbers - as opposed to the "shipping boom" we've seen in recent years.
