Port congestion, container shortages, and U.S. foreign trade
2022
Steinbach, Sandro
This paper assesses the U.S. foreign trade effects of port congestion and container shortages using event studies and monthly trade data at the port-product level. The results show that the U.S. exported 24.5 percent fewer containers between May and November 2021, amounting to export losses of -$15.7 billion. In addition, I document considerable heterogeneity between commodities, with chemical products, followed by transport equipment, machinery, and vegetable products facing the brunt of the economic damages. These estimates indicate how port congestion and container shortages undermine the competitiveness of U.S. businesses in foreign markets.
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