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Global container volumes grew 6% year-on-year in 2024 to 183.2 million TEUs
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The strong performance marks a sharp rebound from the more subdued growth in 2023 dampened by the post-pandemic demand surge and stockpiling in 2022
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North America showed the most significant growth in imports for 2024, increasing 12% year-on-year, while Far East exports were the highest-performing sector
Global container volumes jumped 6% in 2024 compared to 2023, according to Container Trades Statistics Ltd. (CTS).
With 183.2 million twenty-equivalent units lifted, 2024 saw three months—May, August, and December—each surpassing 16 million TEUs, “a first in history,” according to CTS.
This achievement marks a sharp rebound from the more subdued growth in 2023, which was dampened by the post-COVID demand surge and stockpiling in 2022, added CTS.
North America posted the strongest import growth in 2024, rising 12% year-on-year and signaling a sharp recovery from the region’s 5% decline in 2023. While North America remained the third-largest import market, it continued to close in on Europe, which held the second position.
Exports from the Far East to North America saw a 14% jump, with Los Angeles maintaining its status as the region’s primary gateway, handling over 90% of shipments from the Far East.
The Far East emerged as the top-performing export region in 2024, posting an 8% increase from 2023 and a 10% rise from 2022. The region’s share of global exports climbed to 61%, up from 59% the previous year.
Growth was particularly strong in dry goods, while reefer cargo also performed well, with the Far East maintaining its position as the second-largest exporter of refrigerated shipments after South and Central America, the leading region for reefer trade.
Far East exports to North America remained a key growth driver, while shipments to Europe and the Indian Sub-Continent & Middle East also saw significant gains. Europe recorded a 9% year-on-year increase, while exports to the Indian Sub-Continent & Middle East surged 12% from 2023 and 35% compared to 2022.
Despite lower export volumes due to geographic limitations, Australasia & Oceania posted growth in 2024, particularly in trade with the Indian Sub-Continent & Middle East. Exports along this route surged 34% year-on-year and an impressive 58% compared to 2022. India played a major role in the expansion, with imports from the region more than doubling over the past two years.
While global trade showed strong momentum, not all markets saw growth, according to CTS. Germany recorded the largest export decline in 2024, with volumes falling 4% year-on-year. This follows a 3% decline in 2023, continuing a downward trend driven primarily by weaker shipments to China.
Overall, 2024 marked a strong year for global container trade, with North America and the Far East leading the growth. “Looking ahead, key questions remain: Will the record volumes of 2024 sustain into 2025, or will the market stabilize? Can emerging economies like India continue their rapid expansion?” said CTS.
Despite ongoing challenges—including pandemics, economic uncertainties and geopolitical shifts—”the global container market continues to adapt to its circumstances,” according to CTS.
