Shifting Economic Mass Towards Emerging Economies Shown In Global Freight Data [1]
The latest update of global freight data collected by the International Transport Forum at the OECD through September 2013 reinforces the observation of a shift of economic mass to emerging economies:
- USA and EU27 exports increase strongly and imports decline markedly, reflecting weak domestic demand and stronger performance of emerging economies;
- EU external trade by air, considered as a lead indicator, rebounds above pre-crisis peak, indicating a potential improvement of the economic outlook;
- Road and rail freight data continue to point out weak domestic demand especially in the EU area.