MARITIME TRANSPORT AND WORLD GDP
Maritime transport
Global seaborne trade rose by 4% in volume terms in 2017 according to UNCTAD, the fastest growth rate in five years.
Expansion was largely driven by increased industrial production in emerging markets, which account for 60% of shipped exports. Rising trade was accompanied by 3.3% increase in maritime-fleet capacity.
UNCTED thinks the prospects are bright, too. Autonomous ships could boost efficiency in the industry, though job losses and cyber-security concerns may slow adoption of the technology.
Despite tensions between American and China, seaborne trade is forecast to rise by another 4% in 2018, and then by 3.8% annually until 2023.
World GDP
The world economy grew by 3.56% in the second quarter of 2018 compared with a year earlier, according to our estimates.
That is almost exactly the same as the 3.57% expansion rate observed in the first quarter. Trends vary between regions: growth rates continue to rise in America and India, but are leveling off in China and the euro area.
According to the OECD, a think-tank, growth is also becoming more uncertain because of increased restrictions on trade, the lack of clarity over Brexit and building financial risks.
It expects global growth to level off in the coming years, and has tempered its predictions for both 2018 and 2019, from 3.9% down to 3.7%.
Read more on SOWOLL.
Global seaborne trade rose by 4% in volume terms in 2017 according to UNCTAD, the fastest growth rate in five years.
Expansion was largely driven by increased industrial production in emerging markets, which account for 60% of shipped exports. Rising trade was accompanied by 3.3% increase in maritime-fleet capacity.
UNCTED thinks the prospects are bright, too. Autonomous ships could boost efficiency in the industry, though job losses and cyber-security concerns may slow adoption of the technology.
Despite tensions between American and China, seaborne trade is forecast to rise by another 4% in 2018, and then by 3.8% annually until 2023.
World GDP
The world economy grew by 3.56% in the second quarter of 2018 compared with a year earlier, according to our estimates.
That is almost exactly the same as the 3.57% expansion rate observed in the first quarter. Trends vary between regions: growth rates continue to rise in America and India, but are leveling off in China and the euro area.
According to the OECD, a think-tank, growth is also becoming more uncertain because of increased restrictions on trade, the lack of clarity over Brexit and building financial risks.
It expects global growth to level off in the coming years, and has tempered its predictions for both 2018 and 2019, from 3.9% down to 3.7%.
Read more on SOWOLL.
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