Recovery Continues in Global Freight Transport - Uncertainties Remain
The latest update of global freight data collected by the International Transport Forum at the OECD shows that since the financial crisis of 2008:
- The recovery was labelled “uncertain” in our previous brief. New data do little to reduce the uncertainty, especially when considered in combination with the risks posed by geopolitical events for the global economy, according to preliminary data.
- Road, rail, and sea freight transport levels remain below precrisis volumes in December 2010, by 5-15%;
- Air cargo has fully recovered from the crisis, but the latest data show slower growth and even declines in some markets;
- Road and rail freight show improvements and the road freight trend in the EU is upwards, with quarterly tonne-km growth of 1% for Q1 through Q3 of 2010.