Global Freight Volumes Remain Stagnant and Highlight Concerns Over Potential Decline in Europe
The latest global freight data collected by the International Transport Forum at the OECD through March 2012 highlight concerns over possible decline in the EU-27:
- External trade by sea, measured in tonnes of goods moved, in the EU- 27 and the USA remain stagnant below pre-crisis levels;
- External trade by air, considered a lead indicator for overall economic performance, suggests near-term decline in the EU-27 as trade languishes below pre-crisis levels;
- BRIICS and Asia remain locomotives of global growth although trade with Asia shows signs of levelling off. EU-27 exports to China fall both for air and sea;
- Weak recovery in road and rail freight, especially in the EU-27, reflects continued weak domestic demand.