The transport barometer: Economic slowdown affects transport
European countries with strong export economies hit hard
Erkrath,
Germany, 2019-07-19 – Germany, France and the Benelux states are feeling the
affects of the global economic slowdown. These are the current numbers on the
TIMOCOM transport barometer which the IT company uses every quarter to
document the development of transport offers and requests on Europe’s largest
freight exchange.
The
number of freight offers made on the market via TIMOCOM from the beginning of
April to the end of June 2019 was 20 percent lower than in the same quarter
last year. “The US government’s protectionist
economic policies are hampering global trade, which in turn reduces the amount
of goods exported. Export oriented countries such as Germany, France and the
Benelux states are suffering the worst effects,” says TIMOCOM Business
Analyst David Moog.
In
total, the freight smart app, which companies can use to place and manage their
freight transport offers on the freight exchange, hosted 21,817,810 offers in
the second quarter; the number of offers for the same period last year was
27,565,605. Moog reports that the decline is largely affecting the transport of
industry and investment goods, from the supplier industry amongst others.
The
impending Brexit is also taking its toll. “After
transport to Britain increased in the first quarter as companies increased the
amount of goods in stock, we are now seeing a market downturn,” reports
Moog. For example, the number of exports from Europe to Britain in the second
quarter decreased by 56% in comparison to the same quarter last year, according
to TIMOCOM.
This
despite the export developments in Southern Europe. Italy, Spain, Portugal and
Greece transported significantly more goods to other European countries this
quarter than in the previous year, with a growth of 21%. Moog: “The fruit and
vegetable season in these countries is in full swing.”