New data shows Russian imports significantly fell in early March

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Data from supply chain visibility provider FourKites has shown that shipment volumes into Russia increased in the week of 16 - 22 February compared to the week prior, only to fall by 40% between March 2nd and 8th. Moreover, FourKites adds that 52% of shippers increased load volumes into Russia and 13% had consistent volume week-over-week, while only 35% decreased their load volumes into Russia. In the opinion of the supply chain visibility giant, this indicates that shippers may have been expediting shipments into Russia in anticipation of impending sanctions due to the conflict.

New data shows Russian imports significantly fell in early March
Featured photo: Russian.dissident, Public domain, via Wikimedia Commons

The data sent by FourKites to Trans.INFO shows a continuation of decreased import volumes into Russia since the Russian invasion of Ukraine. Overall, Russian import volumes for the week of 2 – 8 March are down 40% from the week of 16 – 22 Feb.

This decrease is seen across industries, with Manufacturing, Chemical, Oil & Gas down 33%, Retail down 35%, and CPG and F&B down 57% over the same period. (See below).

Delays in LTL shipments to Eastern Europe have decreased over the past week too, but remain 7% above the week before the invasion.

As for ocean dwell times, they continued increasing over the last week.

As of 8 March, export dwell times across all European ports have increased by 36% since 17 February. Transshipment dwell times for European ports are up 41% over the same period. Import dwell times remain lower when compared to Exports and Transshipments, but are still up 9% when compared to 17 February.

Over the past week, FourKites says it has seen the largest increases in ocean dwell time in Northern Europe, where dwell times are now up 31% week-over-week and up 58% when compared to 17 February. Dwell times for Eastern, Southern, and Western Europe remained stable over the past week, though still elevated when compared to the week prior to the invasion.

Finally, as the supply chain visibility provider explains, over the past week, ocean dwell times at European ports increased the most for Manufacturing, Chemicals, and Oil & Gas, where dwell times are up 15% week-over-week and up 30% when compared to 17 February.


Featured photo: Russian.dissident, Public domain, via Wikimedia Commons

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