World trade by all modes of transportation will rebound strongly and grow 8.5 percent in 2010, according to the latest forecast from IHS Global Insight's World Trade Service. Total world trade is expected to grow 7.8 percent in 2011.
The report noted that carriers are beginning to respond to an upturn in cargo volumes by increasing capacity.
Trade volumes on the Far East to Europe routes are forecast to rise 8.0 percent in 2010. The export trade from Europe to Asia grew in 2009 and is expected to grow in 2010. Transpacific eastbound trade - from Asia to North America - began to recover in the third quarter 2009, though the downturn in 2009 was 18 percent, and is forecast to grow 10 percent in 2010. Solid growth is forecast for westbound trade after two years of decline. Eastbound transatlantic trade from North America to Europe is forecast to return to 2007 levels by 2013, but westbound transatlantic traffic will not recover to 2007 levels until 2015.
An executive summary of the forecast, "Trends in World Economy and Trade," is available at www.ihsglobalinsight.com/worldtrade.
Timely, incisive articles delivered directly to your inbox.