Port of New York and New Jersey Sees First Quarter Growth

An aerial view of a container port
Updated Published

In March, the Port of New York and New Jersey processed a total of 701,648 TEUs, contributing to a first quarter cumulative volume of 2,001,449 TEUs. This represents a 12% growth compared to the same period last year.

The Port Authority of New York & New Jersey attributes this rise in volume primarily to the resumption of manufacturing overseas after the Lunar New Year holiday.

In terms of imports, there was a significant increase of 23.5% in March alone, totaling 353,300 TEUs. From January to March, the port imported 1,028,331 TEUs, marking a 14.5% increase from the same period in 2023.

Exports, however, remained relatively unchanged in March year-over-year at 117,893 TEUs and saw a slight decline of 1.4% over the first quarter, totaling 324,253 TEUs.

Additionally, the port experienced a 9.3% increase in rail volume in March, reaching 54,860 containers. Over the first three months of 2024, rail volume was up by 7.9% compared to the same timeframe in 2023.