Global Trade to Grow by 8.1 Percent

Global Trade to Grow by 8.1 Percent

World trade by sea, land and air will grow by 8.1 percent in 2010 after declining by 7.2 percent last year, according to a forecast published by IHS Global Insight.

Global Insight’s Second Quarter Trends in World Economy and Trade also projects that containerized trade worldwide will increase almost 10 percent this year, with the main east-west ocean trades growing even faster at 10.6 percent. The global container trade is projected to grow by 6.8 percent in 2011.

By contrast, the global container trade increased only 3 percent in 2008 and declined by 8 percent last year.

The strong growth in the east-west trade lanes is attributed to restocking of inventories in North America and Europe.

--Contact Bill Mongelluzzo at bmongelluzzo@joc.com.