Independent journal on economy and transport policy
12:56 GMT+1
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The increase in the price of sea freight? At least one positive effect has it: that on the recovery of trade in services
The WTO confirms the causes of the increase in tariffs
February 2, 2022
The WTO pointed out that in the third quarter of 2021 the trade in services recorded an increase of +25% on a and specified that, to drive this growth, were and services that can be provided digitally, such as IT services, financial services and business services, both transport, favored by the increase in freight. An increase - has specified the WTO - which however does not yet represent a full recovery compared to pre-pandemic levels given that in the third last year's quarter the trade in services is result of -5% below the levels of the third quarter of the 2019.
Specifying that in the third quarter of last year the only transport services recorded an increase of +45% on a annual and +12% compared to the same period of 2019, recovery that has been boosted by a surge in demand for goods from part of consumers due to lockdowns, the modification of services requiring physical proximity and measurements of fiscal stimulus adopted in advanced economies, World Trade Organization illustrated the causes that led to a remarkable increase in containerized maritime transport tariffs. The WTO explained that the surge in demand, coupled with restrictions adopted to contain the pandemic, has caused bottlenecks in ports, a poor distribution of containers around the world and delays, and this has led to a sharp rise in tariffs of maritime shipments.
This - the WTO specified - did not happen in the segment of air passenger transport which, due to the restrictions for the health crisis, continued to slow down remaining well below pre-crisis levels.
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The WTO pointed out that in the third quarter of 2021 the trade in services recorded an increase of +25% on a and specified that, to drive this growth, were and services that can be provided digitally, such as IT services, financial services and business services, both transport, favored by the increase in freight. An increase - has specified the WTO - which however does not yet represent a full recovery compared to pre-pandemic levels given that in the third last year's quarter the trade in services is result of -5% below the levels of the third quarter of the 2019.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
