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Global air freight volumes show slowing growth in second quarter
DATA from the International Transport Forum (ITF), a unit of the Paris-based OECD (Organisation for Economic Cooperation and Development) shows second quarter air cargo volume falling in the US while at below pre-crisis highs in the EU.
Meanwhile exports to Brazil, Russia, India and China (BRICs) and Asia remain growth drivers while surface freight volumes, measured in tonne-kilometres of goods transported, show signs of a slowing in China and Russia.
Air freight, a leading indicator for economic performance, fell in the second quarter of 2015 in the United States after growing above the pre-crisis level between 2014 and 2015 for the first time since 2012.
The latest data show a decline back to pre-crisis levels. Sea freight remains stagnant in the US (-10 per cent). Exports and imports continue to display diverging trends.
Total exports transported by sea were 34 per cent and 17 per cent above pre-crisis peak in the EU-28 and the United States respectively, while imports stagnate below pre-crisis levels (EU -7 per cent; USA -24 per cent).
Exports to BRICS and Asia have driven European and North American growth since the crisis of 2008. Exports by sea from the EU-28 to BRICS and Asia remain at their above pre-crisis levels (50 per cent and 69 per cent above pre-crisis peak).
US exports by sea to BRICS continue to show growth in the first two quarters of 2015, reaching 68 per cent above pre-crisis levels.
US trade with Mexico by road and rail, measured in value, continues to grow strongly since the recovery started in 2011. EU-28 trade with neighbours remains stagnant with the exception of trade by road with the Balkan region.
Meanwhile exports to Brazil, Russia, India and China (BRICs) and Asia remain growth drivers while surface freight volumes, measured in tonne-kilometres of goods transported, show signs of a slowing in China and Russia.
Air freight, a leading indicator for economic performance, fell in the second quarter of 2015 in the United States after growing above the pre-crisis level between 2014 and 2015 for the first time since 2012.
The latest data show a decline back to pre-crisis levels. Sea freight remains stagnant in the US (-10 per cent). Exports and imports continue to display diverging trends.
Total exports transported by sea were 34 per cent and 17 per cent above pre-crisis peak in the EU-28 and the United States respectively, while imports stagnate below pre-crisis levels (EU -7 per cent; USA -24 per cent).
Exports to BRICS and Asia have driven European and North American growth since the crisis of 2008. Exports by sea from the EU-28 to BRICS and Asia remain at their above pre-crisis levels (50 per cent and 69 per cent above pre-crisis peak).
US exports by sea to BRICS continue to show growth in the first two quarters of 2015, reaching 68 per cent above pre-crisis levels.
US trade with Mexico by road and rail, measured in value, continues to grow strongly since the recovery started in 2011. EU-28 trade with neighbours remains stagnant with the exception of trade by road with the Balkan region.
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