The Port of Los Angeles (Port of LA) handled 855,652 Twenty-Foot Equivalent Units (TEUs) in January, the second-best start to the year on record.

North America's busiest port noted that this is eclipsed only by the pandemic-induced cargo surge in 2022.

It was also the sixth consecutive month of year-over-year increases and surpassed January 2023 by 18%.

"Two factors are driving our strong start," said Gene Seroka, executive director at the Port of Los Angeles.

He noted that cargo owners have been replenishing inventories and moving goods at a fast clip ahead of the Lunar New Year holiday, which will slow production in Asia.

"Second, consumer spending and mostly strong economic data continue to accelerate the American economy," Seroka added, noting that last season's holiday sales grew nearly 4%, with strong job growth and other key indicators trending in a positive direction.

Eleni Kounalakis, California lieutenant governor, said the need for infrastructure and sustainability investments in California's ports and freight system.

"California's historic investments in our state's supply chain infrastructure are designed to make our ports more competitive and sustainable," Kounalakis added.

"With updates in infrastructure, digitalization, and zero-emission projects at the Port of Los Angeles, California's supply chains are moving goods efficiently, accelerating the decarbonization of the state freight sector, all while creating high-quality jobs."

January 2024 loaded imports landed at 441,763 TEUs, up 19% compared to the previous year.

Port of LA noted that loaded exports came in at 126,554 TEUs, an increase of 23% compared to last year.

The Port processed 287,336 empty containers, up 14% over 2023.