Los Angeles holds the title of top port, but for how long?

In October 2023, the Port of Los Angeles achieved the milestone of being the nation's top-ranked port for the second month in a row. This accomplishment was reported based on data released by the U.S. Census Bureau and marked a significant turnaround considering that prior to July of this year, the Port of Laredo had held the top ranking for 20 of the previous 21 months. The Port of Los Angeles had experienced a notable ascent in rankings after reclaiming the top position from Port Laredo, which dominated the rankings from September 2022. Historically, the Port of Los Angeles has been a strong contender, having maintained the first position for almost 20 years, except for brief interruptions during the Covid-19 pandemic and a few months in late 2021 when Chicago's O'Hare International Airport temporarily led. The momentum at the Port of Los Angeles continued as it set a new record for two-way trade in October, reaching $30.98 billion and surpassing its own previous month’s record. This achievement coincides with larger trends in U.S. trade that have shown particular growth in exports and imports in recent months. Despite this success, on a year-to-date basis, Port Laredo remains the leader with $284.91 billion in two-way trade compared to $276.53 billion for the Port of Los Angeles. The difference, $8.38 billion, is a significant drop from the $26.18 billion gap during the same period last year. Nevertheless, both ports are projected to continue setting records in trade volumes as 2024 approaches. The overall trade for the United States recorded through October 2023 totaled $4.43 trillion and highlighted Mexico as the nation’s top trading partner. This situation reflects a growing interconnectedness in trade dynamics, showcasing the potential for both ports to thrive in a competitive environment where trade activity remains robust despite fluctuations in rankings.