Loaded imports in 2022 are projected to increase 2.1 per cent over 2021 with a total of 29.7 million TEU.

The combined loaded import volume at the monitored west coast ports decreased by 87,000 TEU between May and June, which equates to a 6.4 per cent decline. The total loaded import volume was 1.28 million TEU, a record for the month of June and a four per cent gain over the same month of last year.

Year-to-date volume imported through the first six months of 2022 totalled 7.67 million TEU for a 0.1 per cent dip versus 2021. No port posted growth over May, although Vancouver and Prince Rupert were level.

Year-on-year gains were reported at Long Beach, Oakland, Vancouver and Prince Rupert. Loaded imports in 2022 are projected to decrease by 0.6 per cent from 2021 with a total of 15 million TEU.

The combined loaded import volume at the primary monitored east coast ports decreased by 59,000 TEU between May and June, which equates to a 5.1 per cent slide. The loaded import volume of 1.10 million TEU equates to a 7.6 per cent gain over the same month of 2021 and is a high for the month of June.

"Retail sales are still growing, but the economy is slowing down and that is reflected in cargo imports," said NRF vice president Jonathan Gold.

"Lower volumes may help ease congestion at some ports, but others are still seeing backups and global supply chain challenges are far from over. Our biggest concern is the potential for disruption because of separate labour negotiations at the west coast ports and the freight railroads," Mr Gold said.

For June, the most recent month for which data is available, import volume - at 2.25 million TEU - was down 5.9 per cent compared to May's 2.4 million TEU. May set a monthly import record, going back to when NRF initially began tracking imports, coming in ahead of the previous record, of 2.34 million TEU, set in March.

For the coming months, Port Tracker issued the following projections: July, at 2.26 million TEU, for a 3.2 per cent annual increase; August, at 2.2 million TEU, for a three per cent annual decrease; September, at 2.15 million TEU, for a 0.4 per cent annual increase; October, at 2.13 million TEU, for a 3.9 per cent annual decrease; November, at 2.06 million TEU, for a 2.7 per cent annual decrease and December, at 2.03 million TEU, for a three per cent annual increase.

Hackett Associates Founder Ben Hackett wrote in the report that with the calendar having shifted to the second half of 2022, the run of import growth is receding.

"The outlook is for a decline in volumes compared with 2021 over the next few months, and the decline is expected to deepen in 2023," said Mr Hackett.

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