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The Port Authority of New York and New Jersey's (PANYNJ) cargo volume dropped 16.5 percent in May to 537,412 20-foot-equivalent units (TEUs) from 643,706 TEUs in May 2019, authority officials announced Monday.
PANYNJ officials attributed the decline to the impact of the COVID-19 pandemic on the global economy. The loss brings the authority's total cargo volume for 2020 through May to 2,854,319 TEUs, according to PANYNJ's Breaking Waves blog.
Imports in May totaled 267,008 TEUs, down 21.9 percent year over year. From January through May, imports reached 1,452,122 TEUs, down 6.3 percent from the same period a year ago.
Exports totaled 270,404 TEUs during the month, down 10.4 percent compared with May 2019. Exports were down 6 percent to 1,402,197 TEUs for the period of January through May compared with the same period last year.
Rail volume, totaling 50,499 containers, fell 9.4 percent in May versus a year ago. However, rail volume for the January-through-May period rose 2.9 percent compared with the same 2019 period.