Global Freight Volumes Remain Stagnant
The latest global freight data collected by the International Transport Forum at the OECD through December 2011 continue to indicate macroeconomic stagnation:
- External trade by sea, measured in tonnes of goods moved, in the EU- 27 and the USA remains stagnant below pre-crisis levels.
- External trade by air, considered as a lead indicator, indicates further decline. Total trade by air both in the EU-27 and the USA fall back at their pre-crisis levels.
- Asia and BRICS show resilience as USA and EU-27 exports by sea continue to improve. However, exports by air stagnate while imports decline further.
- Weak performance of road and rail freight in the EU-27 and the USA indicate weak domestic demand.