Imports Impacted by Coronavirus

The epidemic has caused extended Lunar New Year shutdowns, hence lower import volume in February
Posted February 11, 2020

Though a slight lull in imports is typically expected during February due to the post-holiday drag and Lunar New Year, the situation this year has been directly impacted by the Coronavirus outbreak.

It is unknown when many Chinese factories will reopen. “U.S. retailers were already beginning to shift some sourcing to other countries because of the trade war, but if shutdowns continue, we could see an impact on supply chains,” NRF VP Jonathan Gold told Home Textiles Today.

Before this epidemic, TEUs (Twenty-Foot Equivalent Units) in February were forecasted at 1.54 million. Since the outbreak, this number has dropped to 1.41 million TEUs – a 12.9 percent drop.

 

Imports Impacted by Coronavirus | VMSD

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