testata inforMARE
Cerca
14 September 2025 - Year XXIX
Independent journal on economy and transport policy
01:49 GMT+2
LinnkedInTwitterFacebook
FORUM of Shipping
and Logistics

April 2000


DEVELOPING COUNTRIES' MERCHANDISE EXPORTS IN 1999 EXPANDED BY 8.5% -
ABOUT TWICE AS FAST AS THE GLOBAL AVERAGE

Developing countries' merchandise exports in 1999 expanded by 8.5 per cent or about two times faster than the global average. Throughout the 1990s, developing countries' exports rose faster than world trade, with the exception of 1998. In 1999, the share of developing countries was 27.5 per cent for merchandise exports and 23 per cent for commercial services exports, both being more than 4 percentage points higher than in 1990.

Among the least-developed countries, merchandise export growth differed sharply again in 1999. Exporters of manufactured goods like Bangladesh, Cambodia and Haiti expanded their exports faster than world trade. Oil exporters, such as Angola and Yemen, benefitted from the oil price hike and increased their exports by more than one third. While, non-fuel commodity exporters, faced with declining commodity prices, tended to record lower export values.

Global commercial services trade accelerated only slightly in 1999, as the recovery in Asia and higher growth in North America were partly offset by lower growth in Western Europe and an import contraction in Latin America and the transition economies.

These are among the findings of the WTO's preliminary report on trade developments in 1999 and the outlook for this year (full report is attached). Other highlights include the following:

  • Global output and trade strengthened considerably in the second half of 1999, thereby improving the prospects for higher growth in the current year. The recovery in Asia and continued high demand growth in North America contributed most to global trade expansion last year.

  • World commodity output in 1999 increased by 1.5 per cent, the same as in 1998. A fall in mining sector output (in particular oil) contrasted with stronger growth in the manufacturing sector (e.g. electronic goods and automobiles). The global output of services industries exceeded commodity output growth. World GDP growth increased from 2 in 1998 to 3 per cent in 1999.

  • Trade benefitted from the stronger economic activity. Although for the year as a whole merchandise trade expanded in volume terms at the same rate as in 1998 (4.5 per cent), the pace of the expansion in the fourth quarter exceeded the average rate of 6.5 per cent recorded in the nineties.

  • International capital markets remained buoyant. Global FDI flows surged to a new record level of 800 billion dollars, driven by an exceptionally large value of cross border mergers and acquisitions. The sharp rise in global capital flows was largely concentrated among developed countries. Private net capital flows to emerging markets are estimated to have stagnated in 1999 at about 150 billion dollars.

  • Nominal and real effective exchange rates recorded major variations, leaving their mark on trade flows. While the euro and most European currencies weakened vis-à-vis the US dollar, many East Asian currencies, in particular the Japanese yen, the Korean won and the Thai baht, appreciated markedly.

  • Average prices of internationally traded goods declined slightly. The weakness of the Euro contributed largely to the fall in Western Europe's dollar export prices and a decrease in the prices of manufactured goods. Non-fuel commodity prices continued to weaken further, thus affecting the earnings of many raw material exporters. Oil prices, which had fallen sharply in 1998, recovered strongly in 1999 due to a cutback in oil output and an increase in global demand.

  • World merchandise trade value increased by 3.5 per cent in 1999, faster than commercial services trade. Nevertheless for the 1990-99 period as a whole, commercial services trade still expanded slightly faster than merchandise trade.

  • Thanks to oil price developments, the highest export value growth of all regions in 1999 was recorded in the Middle East and Africa. However, this strong expansion last year did not fully offset the declines recorded in 1998.

  • Merchandise imports grew at double-digit rates in North America and Asia, stagnated in Western Europe and Africa and decreased by about 10 per cent in the transition economies and in Latin America (excluding Mexico).

  • Merchandise export growth among the LDCs differed sharply again in 1999. Oil exporters such as Angola and Yemen benefitted from the oil price hike and increased their exports by more than one-third. Exporters of manufactured goods like Bangladesh, Cambodia, Haiti and Myanmar expanded their exports faster than world trade. Non-fuel commodity exporters faced with declining commodity prices tended to record lower export values.

  • Developing countries' merchandise exports expanded by 8.5 per cent or about two times faster than the global average. Throughout the 1990s developing countries' exports rose faster than world trade, with the exception of 1998. In 1999, the share of developing countries was 27.5 per cent for merchandise exports and 23 per cent for commercial services exports, both being more than 4 percentage points higher than in 1990.

  • Commercial services trade accelerated only slightly in 1999, as the recovery in Asia and higher growth in North America were partly offset by lower growth in Western Europe, and an import contraction in Latin America and the transition economies.




WORLD TRADE DEVELOPMENTS

Main Features

A strengthening of world economic output in 1999 reversed the slowdown of world trade in the first half of 1999 and led to a dynamic expansion of trade in the second half. For the year as a whole, the real growth of world trade remained unchanged from the preceding year and was below the average trade expansion recorded throughout the 1990s. Although trade growth continued to exceed both the growth in world commodity output and world GDP, the excess margin between the growth rates remained smaller in 1999 than those observed during the 1990-1997 period.


Demand in the United States and the Asian recovery were the motors of the global trade expansion in 1999. The outstanding strength of United States investment and private consumption benefitted not only the NAFTA region, but also sustained the recovery in Asia and to a lesser extent output in Western Europe. A major factor behind the excellent performance of the United States economy and the unprecedented length of the current expansion has been the high level of investment in information technology, the backbone of the "new economy". Excitement about the growth potential of the new economy has attracted large capital inflows and contributed to an extraordinary boom in the creation and valuation of high-tech companies. While the high rate of investment has increased production capacity and stimulated productivity growth of the United States economy, the question arises for how long high output and demand growth can be sustained without leading to inflationary pressures. A further risk to the strong economic expansion in the United States could arise from the widening of the current account deficit, which points to the increasing role of foreign savings in sustaining United States demand growth. An erosion of investor confidence in the outlook for the United States economy could lead to lower capital inflows and trigger a correction in the dollar rate and the stock markets.

The recovery in Asia was stronger than expected and led to double-digit real import growth in 1999. GDP growth was uneven among the economies in the region, ranging from 11 per cent in the case of the Republic of Korea to stagnation in the case of Indonesia. In many countries economic growth was sustained by fiscal stimulus, replenishment of inventories and a rebound in the global demand for electronic goods.



The information technology sector and the automobile industry both recorded strong global output growth. Within the information technology sector, the unit sales of personal computers rose by 22 per cent to 114 million units, and the dollar value of global sales of semi-conductors expanded by 18 per cent, to a new record level of 160 billion dollars. One of the most dynamic branches of the global information technology industry in 1999 was mobile phones. It is estimated that world-wide sales of cellular mobile phones reached 283 million units, an increase of two-thirds over 1998 sales. New registrations of passenger cars are estimated to have expanded by 5.5 per cent, lifting the production of passenger cars to a new all time high of 48.6 million units in 1999. Although trade data by product group are still incomplete, there is no doubt that exports of automotive products and of office and telecom equipment have expanded significantly faster than the global average.

Developments in world financial markets continued to influence global trade developments through shifts in the direction of international capital flows and their impact on exchange rate changes. Global FDI flows have surged by about 25 per cent, to some 800 billion dollars. FDI inflows in Asia stagnated or rose only marginally, while the United States recorded net FDI inflows of 130 billion dollars. The main factor behind the increase in global FDI flows was the exceptional wave of cross-border mergers and acquisitions.

While the United States attracted an unprecedented level of capital inflows, which financed its widening current account deficit, net private capital flows to the major emerging markets are estimated to have stagnated at 150 billion dollars in 1999.

The increase in the United States current account deficit caused by increased imports can be seen as a positive cyclical element in the world economy as it allows output and employment to be sustained in foreign export industries facing excess capacity. At the same time, the deficit eases inflationary pressures in the United States where labour and productive capital are increasingly scarce. However, what is beneficial in a certain cyclical situation might be difficult to sustain in the medium term.

In particular, a large current account surplus of the developing countries vis-à-vis the United States (or any other high income country) is hardly a desirable feature over a longer period. Why is this so when most governments seem to favour a current account surplus over a deficit? A current account surplus implies that net capital (= savings) from the developing countries flows to other countries where it supports investment and/or consumption. A more desirable situation for the developing countries is a current account deficit (and a rising trade volume), and a concurrent inflow of capital that is used to enlarge (profitable) production capacity. If the capital inflow is used primarily for consumption, increased debt and debt servicing costs are unlikely to be sustainable.

The present large net capital inflows into the United States reflect, on the one hand, that foreign investors expect investment returns to be higher in the United States than elsewhere, and on the other, that United States consumers are spending an historically high share of current income (encouraged by its increased financial wealth), while United States companies maintain a high level of capital spending. A reversal in foreign investors' appreciation of future earnings in the United States or a cutback in United States consumption or investment growth could rapidly change the size of the United States current account deficit, which in 1999 was equivalent to 3.7 per cent of GDP - a historic record level.

Prices of internationally traded goods decreased slightly as the increase in oil prices was offset by a further decrease in the prices of non-fuel commodities and manufactured goods. Among the non-fuel commodities, prices of food and beverages decreased by more than 15 per cent while those of agricultural materials and metals remained roughly unchanged, although they started to strengthen in the second half of 1999. Despite this partial price recovery, the annual average prices of non-fuel commodities fell to a ten year low. The decrease in the dollar price of manufactured goods can be attributed to the fall in prices of office and telecom equipment as well as the strength of the United States dollar vis-à-vis the euro and the near absence of inflation in the goods sector of all major economies.

Given that oil prices tripled from 10 dollars per barrel in February 1999 to 30 dollars in the first quarter of 2000, concerns about a resurgence of consumer prices are understandable. However, the marked reduction in the oil intensity of output in the industrial countries - by about 40 per cent since the first oil price hike more than 25 years ago - has reduced this risk considerably. The increased role of natural gas in world fuels trade has also contributed to moderate the increase in import prices of fuels. While the impact of the rebounding oil prices have been small on consumer prices in 1999, the impact was dramatic on the export revenues of the oil exporters. The Middle East recorded export growth in excess of 20 per cent in 1999, but this did not fully offset a corresponding decline in 1998.







WORLD TRADE IN 1999

1. Global trade and output developments

While the negative impact of the financial crisis in Asia and Latin America on output and trade flows were initially underestimated, the more sober projections for 1999 turned out to be too pessimistic. Output of developing countries in Asia rebounded by 6 per cent, Russian GDP recovered by 3 per cent and Brazil's economy achieved positive growth for the full year of 1999. The United States economy again provided a major stimulus to world trade last year as domestic demand grew by 5.5 per cent. By contrast, the Japanese economy stagnated and Western Europe's GDP growth decelerated to 2 per cent.

On a sectoral basis, preliminary data suggest that mining output decreased as crude oil production was cut back by 1.5 per cent and agricultural output rose for the second year in a row by only about 1 per cent. Manufacturing output recovered and expanded by about 2.5 per cent. The highly divergent growth rates of regional demand and sectoral output left their mark on global trade flows, which also differed strongly by region and sector.

The value of world merchandise trade rose by 3.5 per cent in 1999 and amounted to 5.45 trillion dollars. Average trade prices decreased for the third year in a row, although the decrease in 1999 was much smaller than in preceding years.

Trade in commercial services rose by 1.5 per cent in 1999 and thereby less rapidly than merchandise trade. Price data for United States commercial services point to a moderate increase in prices for internationally traded services. This implies that the expansion of exports of commercial services has probably also lagged behind merchandise export growth in volume terms.

World exports of merchandise and commercial services, 1997-99
 ValueAnnual change
 1999199719981999
 
Merchandise54603.5-1.53.5
 
Commercial services13404.00.01.5


2. Merchandise trade

A detailed review of world merchandise trade by product group in 1999 is not yet feasible at the time of writing this report. However, partial information indicates that rebounding oil prices have led to an increase of world fuels exports in excess of 20 per cent. Above average growth was also recorded for office and telecom equipment and automotive products. Primary products, other than fuels, on average experienced price declines in 1999. Taking into account moderate demand growth, the global value of non-fuel primary products has probably stagnated or changed only very little from the preceding year.

Preliminary data on merchandise trade by region are provided in Tables II.2 and II.3. The large variations in import volumes by region largely reflect the differences in regional demand and output growth. As can be seen from Table II.2, North America and Asia recorded import growth slightly above 10 per cent or two times faster than the global average. While for North America this was the third year in a row in which import growth exceeded 10 per cent, the developments in Asia illustrate the strength of the region's recovery, which offset the sharp import contraction in the preceding year. While imports of Asia recovered, those of Western Europe recorded a marked deceleration. The transition economies as a group recorded a 10 per cent contraction due to the sharp cut back of imports into Russia and the Ukraine. Imports of Africa and the Middle East changed little in real terms in 1999, also reflecting poor export earnings in recent years.

Table II.2
Growth in the volume of world merchandise trade by selected region, 1997-99
(Percentage change)
    
 Exports Imports
        
 199719981999 199719981999
        
World a10.54.54.5 
North America11.03.54.5 13.010.510.5
Latin America11.57.57.0 22.58.5-2.0
Mexico19.511.013.5 28.015.515.0
Other Latin America6.55.52.0 20.04.5-12.0
Western Europe9.55.53.5 9.08.53.5
European Union (15) 9.56.03.5 8.58.54.0
Transition economies10.55.0-3.0 13.55.0-10.0
Asia13.03.56.0 5.5-8.59.0
Japan12.0-1.52.0 1.5-5.59.5
Asia (5) b16.513.011.5 3.0-22.517.5
a Average of export and import growth.
b Indonesia, the Republic of Korea, Malaysia, Philippines and Thailand.
Note: Separate volume data are not available for Africa and the Middle East, although estimates for these regions have been made in order to calculate a world total.

The variation among regional export growth rates in 1999 was smaller than for imports. Despite sharply lower intra-regional trade, Latin America recorded the highest export expansion of all regions. Asian export growth exceeded the global average as Japan's exports recovered and the five Asian developing countries affected most by the 1997/98 financial crisis achieved double-digit export growth. North America's exports accelerated somewhat thanks to the dynamic performance of intra-trade. The deceleration of West European economic activity in 1999 led to markedly lower growth of intra-trade. While intra-European Union exports expanded two times faster than world trade in 1998, its growth in 1999 fell below that of world trade. The transition economies and the Middle East both recorded a contraction of their export volume.


Turning to developments in value terms, the Middle East reports the highest regional export growth rate despite its reduction in export volume. Africa's export growth was, at 8 per cent, the second highest among all regions. This was largely due to the sharp recovery of shipments from the region's oil-exporting countries. However, it should be recalled that for both Africa and the Middle East, the 1999 rise did not fully offset the decrease recorded in the preceding year. Latin America's exports rose by a strong 6 per cent, as the higher growth of Mexico's and some Caribbean countries' exports more than offset the sharp declines reported for all South American countries. A recovery of intra-Asian trade supported by stronger regional growth and appreciating currencies led Asian exports to regain their pre-crisis peak level. North American exports expanded by 4 per cent in 1999, following a small contraction in 1998. The marginal decline in Western Europe's export value was due to a deceleration in volume growth but above all, to a fall of nearly 4 per cent in the region's dollar export prices. The weaker export prices are principally due to the depreciation of the Euro vis-à-vis the US dollar. The sluggishness of Western Europe's import growth, together with the sharp contraction of Russia's imports, contributed to a further decrease in the export value of transition economies in 1999.

Table II.3
Growth in the value of world merchandise trade by region, 1997-99
(Billion dollars and percentage change)
    
 Exports (f.o.b.) Imports (c.i.f.)
        
 Value Annual percentage change Value Annual percentage change
            
 1999 199719981999 1999 199719981999
            
World5460 3.5-1.63.5 5725 3.5-0.84.0
North America934 9.2-0.74.0 1281 10.34.411.5
Latin America292 10.2-1.26.0 329 18.54.8-4.0
Mexico137 15.06.416.5 148 22.613.913.5
Other Latin America156 7.2-6.2-2.0 181 16.4-0.1-14.5
Western Europe2349 -0.63.4-0.5 2417 -0.35.90.5
European Union (15)2176 -0.53.8-0.5 2233 -0.56.31.0
Extra-EU (15) trade799 1.8-0.3-1.5 851 -0.36.22.5
Transition economies212 4.1-4.6-1.5 211 6.5-1.8-13.0
Central/Eastern Europe101 6.39.50.0 129 5.610.8-2.0
Russian Federation74 -0.4-15.90.0 41 6.7-19.8-30.5
Africa113 1.9-15.58.0 132 5.51.20.5
South Africa a27 6.2-9.01.5 27 9.5-9.3-8.5
Major fuel exporters b41 -0.1-31.424.0 30 9.6-0.85.5
Middle East169 4.7-22.422.0 152 8.1-3.24.0
Asia1390 5.4-6.17.5 1201 0.4-17.810.5
Japan419 2.4-7.88.0 311 -3.0-17.211.0
China195 21.00.66.0 166 2.5-1.518.0
Asia (5) c371 5.1-3.59.5 292 -3.1-30.915.5
a Beginning 1998, figures refer to South Africa and no longer to the South African Common Customs Area.
b Angola, Algeria, Congo, Gabon, Libyan Arab Yamahiriya and Nigeria.
c Indonesia, the Republic of Korea, Malaysia, Philippines and Thailand.


3. Commercial services trade

The global export value of commercial services recovered in 1999 after stagnating in 1998. Preliminary data by major services categories indicate that all categories recorded positive growth. Transportation services are estimated to have expanded less than the average growth rate of 1.5 per cent despite the increase in fuel costs. Travel services and the residual grouping of Other business services have both expanded by about 2 to 3 per cent.


The commercial services trade data by region shown in Table II.4 indicate that the most dynamic export and import growth in 1999 was in North America and Asia. While North America's services import growth exceeded its export growth, thereby reducing its traditional surplus in commercial services, Asia's imports and exports expanded at about the same rate (4-5 per cent). The rebound in Asian services trade is much weaker than for Asian merchandise trade, in particular for exports. In contrast to the developments in North America and Asia, Western Europe's services trade expanded less favourably in 1999 than in the preceding year. Available data for the transition economies point to a sharp contraction of both services exports and imports.

Table II.4
Growth in the value of world trade in commercial services by selected region, 1997-99
(Billion dollars and percentage change)
 
 Exports Imports
 
 Value Annual change Value Annual change
 
 1999 199719981999 1999 199719981999
            
World1340 402 1335 313
North America284 825 219 1069
United States252 925 182 11810
Latin America54 79-2 60 134-9
Mexico12 56-3 14 1979
Other Latin America42 810-2 47 124-13
Western Europe630 260 600 071
European Union (15)565 151 555 072
Transition economies47 02-10 44 01-8
Asia267 5-154 337 2-115
Japan60 3-9-3 114 -5-93
Hong Kong, China35 1-103 22 5-2-2
China27 19-2 32 34-4
Asia (5) a62 7-233 73 5-255
aIndonesia, the Republic of Korea, Malaysia, Philippines and Thailand
Note: Separate reliable data are not available for Africa and the Middle East, although estimates for these regions have been made to calculate a world total.


4. Trade by region and country

The outstanding high investment and consumption growth in the United States resulted in an expansion of imports of goods and services of more than 10 per cent in both nominal and real terms. Over the last two years United States import demand sustained world trade remarkably. Excluding shipments to the United States, the nominal value of world merchandise and services trade in 1999 would have still been below its 1997 level and the volume expansion of world merchandise trade would have been limited to 6 per cent instead of 9 per cent. The share of the United States in world merchandise imports rose to 18 per cent, the highest US share ever. Strong domestic growth was also one reason why United States merchandise exports in real terms lagged behind global trade growth. All countries having strong trade ties with the United States benefitted from this development, and in particular Canada, which expanded its merchandise exports to the United States over the last two years by about 18 per cent, or twice the rate of global trade growth.

Commercial services' imports of the United States rose by 10 per cent and two times faster than exports. Canada's import growth of commercial services recovered to 5.5 per cent, but remained for the fifth year in a row behind the expansion of its services exports. Although the expansion of United States commercial services' imports has exceeded that of exports since 1997, the United States surplus in services in 1999 still amounted to US$68 billion.

In 1999, Latin America recorded its worst annual economic performance for the last decade, as regional output stagnated and the volume of merchandise imports decreased by 2 per cent. At least eight economies recorded lower output in 1999 than in the preceding year. As in 1998, there is a striking difference in output and trade growth between Mexico and all the other Latin American countries combined. While Mexico's merchandise exports and imports rose over the last two years by more than 20 per cent, other Latin American countries combined reported a fall in exports of nearly 8 per cent and in imports of nearly 15 per cent.

A large part of the divergent performance can be attributed to differences in the export structure. Manufactured goods account for 85 per cent of Mexico's exports, but only 40 per cent for Latin America excluding Mexico. Manufactures enjoyed more stable prices than non-fuel commodities. In addition, Mexico's exports are destined largely to the booming North American market (nearly 90 per cent) while the other Latin American countries ship less than 30 per cent of their exports to North America. Mercosur experienced a contraction of its intra-trade by about one quarter, as output of its member countries declined or stagnated.

For commercial services imports, one can observe a similar divergency, as Mexico's imports rose by 15 per cent, while those of the other Latin American countries contracted by nearly 10 per cent over the last two years. Only for commercial services exports, Mexico reports a stronger decrease than the other Latin American countries in 1999. The somewhat surprising decline reported for Mexico's commercial services exports is attributed to a decrease in revenues from both travel and other business services.

The slowdown in Western Europe's output growth to 2 per cent in 1999 contributed to a markedly lower trade growth in volume terms. As more than two-thirds of Western Europe's trade is intra-regional, weak consumption growth affected both exports and imports. As regards merchandise trade, it is estimated that exports and imports grew in volume terms by about 3.5 per cent and thereby less than world trade. As the Euro and other European currencies weakened vis-à-vis the US dollar, the region's dollar export and import prices decreased on average by about 4 per cent, leading to a stagnation of their trade dollar values in 1999. Austria, France and Sweden were among the West European countries which recorded only moderate import growth, while Norway and Turkey even experienced a contraction of their import volumes in 1999. Spain, Portugal and Ireland, however, continued to be the most dynamic traders in Western Europe, with imports and exports expanding much faster than the European average.

Although output in the transition economies recovered by about 2 per cent, growth remained disappointingly low in the tenth year of transition. Poland is the only country in the region in which the output level in 1999 was above the level attained ten years ago. The sluggishness in Western Europe's economy together with a dramatic shrinkage of Russian imports depressed the region's trade in 1999. Merchandise and commercial services trade were both shrinking in dollar value and volume terms. Most of the decline was concentrated in the CIS member countries. Central and Eastern Europe's merchandise trade slowed down sharply but continued to show positive real growth in 1999. Hungary continued to record the highest trade growth among the Central/East European countries. In 1999, its merchandise exports and imports expanded by about 9 per cent in dollar terms. A major contribution to this strong trade performance was made by the expansion of intra-industry trade in office and telecom equipment and automotive products.

Africa and the Middle East recorded one of their weakest annual GDP growth performances in the 1990s. The rebound in their merchandise exports was largely due to the recovery in oil prices. Africa's merchandise exports rose by 8 per cent in 1999. The major fuel exporters recorded an increase of about one-quarter, which did not fully offset the decline recorded in 1998. South Africa and other non-fuel exporting African countries recorded an increase in their export earnings of less than 2 per cent. African imports stagnated in dollar terms for the second year in a row, as sharp declines in South Africa's imports were offset by increases by African developing countries.

Economic growth patterns differed widely in Asia in 1999. While GDP growth in the two most populous countries in the region, China and India, was about 7 per cent, the output in Japan, the largest economy in Asia, stagnated. Among the five Asian countries severely affected by financial crisis, the Republic of Korea recorded an outstanding recovery with double digit growth, while Indonesian output stagnated. Asian developing countries as a group recorded an output expansion of 6 per cent, at least two times faster than any other developing region.

One of the outstanding developments of Asian trade in 1999 was the double digit trade volume growth of the five Asian countries most affected by financial crises in 1997-98. Their export expansion remained very strong (11.5 per cent) and imports rebounded sharply without offsetting fully the contraction of the preceding year. The regional recovery and the cyclical recovery in the electronic goods industry contributed largely to this dynamic growth. For the Republic of Korea and Malaysia, exports of office and telecom equipment accounted for more than 80 per cent of the overall increase of their export value in 1999.

Japan's merchandise trade recovery was strong, taking into account its stagnating economy. However, export and import values did not regain their pre-crisis peak levels. Japan's commercial services exports continued to shrink, while imports picked-up after a marked decrease in 1997-98. China's merchandise imports expanded by 18 per cent while those of Hong Kong, China decreased for the second consecutive year. A notable feature in Asia's trade is the steady decline of the share of Hong Kong, China in Asia's merchandise trade. Hong Kong, China's domestic exports and retained imports had by 1999 fallen below their 1990 level. This decline has to be seen in the context of the relocation of Hong Kong, China's manufacturing industry to China, which in turn has greatly enhanced its share in world exports. In respect to commercial services, however, Hong Kong, China maintains its position as the leading developing country exporter. For the Asian region, exports of commercial services decreased more strongly in 1998 and recovered by far less in 1999 than did merchandise exports. For imports of commercial services, the recovery in 1999 was also far smaller than for merchandise trade.

Looking at trade performance by country, the following features emerge for 1999 trade developments (see Appendix Tables). First, the United States consolidated its leading position in world merchandise imports and world commercial services exports. Its share in world merchandise imports reached, at 18 per cent, its highest level ever. Second, oil-exporting countries recorded in general the highest export growth in 1999 (at least 16 of them recorded export increases ranging from 15 per cent to 50 per cent). For most of them the increase in 1999 did not fully offset the declines recorded in the preceding year. Third, exporters of office and telecom equipment benefitted from the recovery in the global electronic goods industry. The double digit export growth of the Republic of Korea, Malaysia, the Philippines, Costa Rica and Israel was largely due to office and telecom equipment exports. Fourth, a large number (at least 24) of South American and transition economies recorded double-digit decreases in their imports and often also a fall in their export values. The main causes of these bleak developments include the steep fall of intra-regional trade and the low prices of non-fuel commodities. Fifth, the four largest traders in Western Europe (France, Germany, Italy and the United Kingdom) all recorded a small decline in their merchandise export values and minimal changes in their imports.


5. Processing trade contributes to exceptional trade expansion in selected developing countries

Over the last fifteen years, the outstanding high trade growth recorded by a selected number of developing countries can be partly attributed to the expansion of their "processing trade". Beside multilateral and regional trade liberalization, an increasing number of countries have modified their import regime by granting, under certain conditions, duty-free access to those imports which are bound for the processing and assembling of goods destined for exports. This preferential tariff treatment was initially limited to trade which went through specific areas (e.g. the Special Economic Zones in China or the maquiladoras zones in Mexico) but often extended thereafter to companies located outside these specifically designated areas. While the number of export processing zones has risen to about 850, their success in expanding employment and trade is mixed. In several countries employment in these zones rose sharply and trade was growing rapidly while in many other countries the creation of special zones granting tariff preferences to processing trade had a negligible impact on both trade and employment. In the 1990's the most dynamic processing traders among the developing countries are to be found in Asia and Latin America.

A comprehensive appreciation of the contribution of "processing trade" to the expansion of developing countries' merchandise exports and imports is not attempted here, as the data on processing trade are not as readily available as standard trade statistics. However, the examples given below show that the "processing trade" has gained in importance and often played a crucial part in these countries' overall trade performance. All the eight countries presented in Chart II.4 have recorded an expansion of exports well ahead of the global average in the last decade. Five of them recorded average annual export growth rates around 15 per cent, which is about three times faster than the global trade expansion of 5.5 per cent.

Leading exporters and importers in world merchandise trade (excluding intra-EU trade), 1999


Preferential tariff treatment to "processing trade" is not only a feature of trade regimes in the developing countries. Industrial countries too are often providing duty exemption or reduction on imported goods if these products have been manufactured abroad with materials/components from the importing country. While the value of these imports can be relatively important in bilateral trade flows, their share in total imports is at present rather moderate. For the United States and the European Union the share of imports benefitting from this specific duty exemption amounted to 8 per cent in the US and to 2 per cent in the EU (excluding intra-trade) in 1998. In the United States the share of processing trade in total imports declined markedly as trade with Mexico and Canada became increasingly tariff free with the implementation of NAFTA.

Table II-5
Processing trade and export performance of selected countries, 1990-99
(Billion dollars and percentage)
 Total exportShare ofValue of
 growthprocessing tradeprocessing exports
Country1990-199919981998
 (percent)(percent)(billion $)
 
Dominican Republic an.a. 82.2 4.1 
Tunisia5.9 67.4 4.0 
China13.5 56.9 104.6 
El Salvadorb16.8 48.6 1.2 
Philippines16.5 40.9 12.1 
Mexico14.4 45.2 53.1 
Morocco6.4 34.7 2.6 
Bangladesh c15.2 13.4 0.7 
Memorandum item:      
World total5.4   
 
a Between 1993 and 1998 exports grew by 9.2% and world exports by 7.7% annually.
b Refers to years 1991-1999.
c Refers to fiscal years.
Source: National Statistics


6. Outlook

Global economic output is expected to accelerate from 3 per cent in 1999 to about 3.5 per cent in 2000. The volume of world merchandise trade growth should reach 6.5 per cent. Higher trade growth is possible, in particular, if the demand in Western Europe and Japan pick up more strongly than currently projected.

In 2000, GDP growth of industrial countries could expand by 3 per cent or one half per cent faster than in 1999 as moderately lower growth in the United States is more than offset by higher growth in Western Europe and Japan. Latin America and the Middle East should see a strong pick-up in their GDP growth after experiencing a stagnation of output in 1999. Higher growth is also projected for the transition and African economies. GDP growth of the Asian developing countries is projected to remain unchanged as the impact of the expansionary fiscal policies and the rebuilding of inventories will be less important in 2000 than in 1999, but offset by a strengthening of fixed investment and private consumption.

More robust growth of the world economy in 2000, together with the carry-over effect due to the trade acceleration in the second half of 1999 is projected to lead to export volume growth of at least 6.5 per cent. Most of this higher growth is expected to come from Western Europe and to a lesser extent from Latin America, the Middle East and the transition economies. North America and the developing countries in Asia, which recorded double digit import growth in 1999, are likely to expand their imports less rapidly in 2000, and the projected deceleration of North America's final demand should lead to less dynamic import growth in 2000.

The projections above assume that the oil price will recede from its US$30 per barrel level in the first quarter back to a range of US$20 to US$25 and that major financial market turbulence - in particular a sudden sharp correction of stock markets and the dollar rate - can be avoided in the remaining months of the year. A sharp correction of the stock markets, together with a marked slowing down of United States demand and imports, could alter the trade forecast significantly. Note, for example, that at nearly 350 billion dollars, the United States merchandise trade deficit in 1999 exceeded the total imports of Japan. A disruptive adjustment of the current external imbalances would imply a major risk to trade growth in the near future.


Appendix Table 1
Leading exporters and importers in world merchandise trade, 1999
(Billion dollars and percentage)
 
 Annual Annual
 percentage percentage
ExportersValueSharechange ImportersValueSharechange
 19981999 19981999
 
United States695.012.4-12 United States1059.918.0512
Germany540.59.660 Germany472.68.060
Japan419.47.5-88 United Kingdom320.75.522
France299.05.35-2 Japan310.75.3-1711
United Kingdom268.44.8-3-2 France286.14.97-1
Canada238.44.2011 Canada220.23.737
Italy230.84.11-5 Italy216.03.730
Netherlands204.13.642 Netherlands188.93.251
China194.93.516 Hong Kong, China181.73.1-12-3
Belgium-Luxembourg184.13.363 retained imports a29.20.5-30-20
      Belgium-Luxembourg169.42.972
 
Hong Kong, China174.83.1-70 China165.72.8-118
domestic exports22.20.4-10-10 Mexico148.22.51413
Korea, Rep. of144.22.6-39 Spain145.02.589
Mexico136.72.4616 Korea, Rep. of119.72.0-3528
Taipei, Chinese121.62.2-910 Taipei, Chinese111.01.9-86
Singapore114.62.0-124 Singapore111.01.9-239
domestic exports68.61.2-138 retained imports a65.01.1-3118
Spain109.42.050 Switzerland80.11.450
Malaysia84.51.5-715 Australia69.01.2-27
Sweden84.51.520 Sweden68.21.240
Switzerland80.61.442 Austria67.81.250
Russian Fed. b74.31.3-160      
 
Ireland69.61.2208 Malaysia65.51.1-2612
Austria62.01.17-1 Brazil51.80.9-7-15
Thailand58.41.0-57 Thailand50.60.9-3218
Australia56.11.0-110 Ireland45.60.8142
Saudi Arabia50.50.9-3527 Poland44.80.811-5
Indonesia48.50.9-9-1 India44.60.834
Brazil48.00.9-4-6 Denmark43.30.74-6
Denmark47.80.9-1-1 Russian Fed. b41.10.7-20-30
Norway44.90.8-1813 Turkey39.20.7-5-15
Finland41.50.76-4 Portugal37.60.652
 
Total of above c4927.087.8-- Total of above c4976.084.7--
World c5610.0100.0-23 World c5875.0100.0-14
 
a Retained imports are defined as imports less re-exports.
b Includes trade with the Baltic States and the CIS.
c Includes significant re-exports or imports for re-export.

Appendix Table 2

(Billion dollars and percentage)
 
 Annual Annual
 percentage percentage
ExportersValueSharechange ImportersValueSharechange
 19981999 19981999
 
European Union(15)798.618.90-1 United States1059.923.6512
United States695.016.4-12 European Union (15)851.218.963
Japan419.49.9-88 Japan310.76.9-1711
Canada238.45.6011 Canada220.24.937
China194.94.616 Hong Kong, China181.74.0-12-3
Hong Kong, China174.84.1-70 retained imports a29.20.6-30-20
domestic exports22.20.5-10-10 China165.73.7-118
Korea, Rep. of144.23.4-39 Mexico148.23.31413
Mexico136.73.2616 Korea, Rep. of119.72.7-3528
Taipei, Chinese121.62.9-910 Taipei, Chinese111.02.5-86
Singapore114.62.7-124 Singapore111.02.5-239
domestic exports68.61.6-138 retained imports a65.01.4-3118
 
Malaysia84.52.0-715 Switzerland80.11.850
Switzerland80.61.942 Australia69.01.5-27
Russian Fed. b74.31.8-160 Malaysia65.51.5-3512
Thailand58.41.4-57 Brazil51.81.2-7-15
Australia56.11.3-110 Thailand50.61.1-3218
Saudi Arabia50.51.2-3527 Poland44.81.011-5
Indonesia48.51.1-9-1 India44.61.034
Brazil48.01.1-4-6 Russian Fed. b41.10.9-20-30
Norway44.91.1-1813 Turkey39.20.9-5-15
India36.50.9-49 Norway33.80.81-7
 
Philippines35.00.81819 Israel33.20.7-513
United Arab Emirates29.50.7-1315 Philippines32.60.7-184
Czech Rep.26.80.6162 Saudi Arabia30.00.740
Poland26.80.610-5 United Arab Emirates28.90.6-96
South Africa c26.70.6-91 Czech Rep. d28.90.660
Turkey26.20.63-3 Hungary27.70.6218
Israel25.30.6210 South Africa c26.80.6-9-8
Hungary24.60.6207 Argentina25.50.63-19
Argentina23.30.60-12 Indonesia23.90.5-34-13
Venezuela18.90.4-2110 Egypt16.20.4220
 
Total of above e3884.091.8- - Total of above e4073.090.7--
World (excl. intra-EU trade) e4232.0100.0-44 World (excl. intra-EU trade) e4494.0100.0-35
 
a Retained imports are defined as imports less re-exports.
b Includes trade with the Baltic States and the CIS.
c Beginning 1998, figures refer to South Africa and no longer to the South African Common Customs Area.
d Imports are valued f.o.b.
e Includes significant re-exports or imports for re-export.

Appendix Table 3
Leading exporters and importers in world trade in commercial services, 1999
(Billion dollars and percentage)
         
   Annual    Annual
   percentage    percentage
ExportersValueSharechange ImportersValueSharechange
   19981999    19981999
           
United States251.718.825 United States182.313.7810
United Kingdom101.47.672 Germany127.29.532
France79.35.95-6 Japan113.98.5-93
Germany76.85.73-3 United Kingdom81.46.1114
Italy64.54.80-3 Italy62.74.770
Japan59.84.5-9-3 France59.24.45-9
Spain54.14.01211 Netherlands46.53.540
Netherlands53.14.033 Canada37.12.8-45
Belgium-Luxembourg37.62.864 Belgium-Luxembourg35.52.684
Hong Kong, China35.42.6-103 China32.12.4-4
           
Austria32.62.493 Spain30.92.31312
Canada32.42.427 Austria29.52.26-2
Switzerland27.22.055 Korea, Rep. of26.72.0-1914
China26.62.0-2 Ireland23.51.83218
Korea, Rep. of25.01.9-65 Taipei, Chinese23.21.7-40
Singapore22.91.7-4025 Sweden22.81.7115
Sweden18.01.312 Hong Kong, China22.41.7-2-2
Australia17.21.3-139 Singapore19.31.4-78
Denmark16.01.268 Australia18.01.3-86
Turkey16.01.221-31 India17.31.31622
           
Taipei, Chinese14.81.1-2-11 Denmark16.21.2135
Thailand14.11.1-168 Switzerland15.71.283
Norway13.71.0-3-2 Norway15.41.242
India13.21.02419 Thailand13.91.0-3117
Mexico11.60.96-3 Mexico13.71.079
Malaysia10.80.8-24 Malaysia13.01.0-24
Greece10.50.86 Indonesia12.70.9-288
Israel10.30.8814 Russian Fed.11.70.9-14-27
Poland9.80.721-10 Brazil11.60.99-26
Russian Fed.9.70.7-9-25 Israel10.70.8512
           
Total of above1165.087.1-- Total of above1145.085.9--
World1340.0100.00.01.5 World1335.0100.00.52.5

›››File
FROM THE HOME PAGE
HMM signs new 10-year contract with Vale for iron ore transport
Seoul
It is worth around $310 million.
The Campania Port Authority reaches an agreement with UNIPORT and Assiterminal
Naples
The regional tax - highlights the port authority - risks undermining the competitiveness of ports
IAPH and WCO publish updated guidelines on cooperation between customs and port authorities
Tokyo/Brussels
Contributed by the World Shipping Council
ABB and Blykalla collaborate on nuclear marine propulsion
Stockholm
The agreement focuses on small modular fast reactors developed by the Swedish company
Saipem wins new offshore contract worth approximately $1.5 billion in Türkiye
Saipem wins new offshore contract worth approximately $1.5 billion in Türkiye
Milan
It is related to the third phase of the Sakarya gas field development project.
In the second quarter, freight traffic in the port of Civitavecchia grew by +5.7%
Civitavecchia
Record for cruise passengers this period
Uniport and Assiterminal oppose the additional fees demanded of port operators by the Campania Region.
Rome
Amount between 10% and 25% of the annual state fee
The first train from Belgium under the FS Logistix-Lineas agreement has arrived in Segrate.
Milan
Five return connections per week to Antwerp are scheduled
Modernization works are underway at the passenger terminal at the port of Igoumenitsa.
Naples
Grimaldi takes delivery of the PCTC "Grand Auckland"
Damage to submarine cables in the Red Sea
Portsmouth
According to the International Cable Protection Committee, the cause could be ship traffic
Dutch company Damen to build 24 naval vessels for British company Serco
Gorinchem/Amsterdam
Green light for a €270 million bridging loan to the shipbuilding company.
DP World to build and operate container terminal at Montreal's new Contrecœur port
Dubai/Montreal
It will become operational in 2030
Expansion work has begun at the Vienna South intermodal terminal.
Vienna
Annual traffic capacity expected to increase by 44%
In July, ship traffic in the Suez Canal increased by +0.8%
In July, freight traffic in the ports of Genoa and Savona-Vado decreased by -3.0%
Genoa
The decline was limited by increased oil traffic in the Vado harbor. Ferry traffic dropped 9.9%.
Trump nominates Laura DiBella as chair of the Federal Maritime Commission.
Washington
The nomination of Robert Harvey as commissioner of the federal agency has also been forwarded to the Senate.
Genoa's new dam: a modification has been approved to allow for completion of work by the end of 2027.
Genoa
Phase A and Phase B works will be carried out rather than sequentially
Assiterminal, simplify and standardize dredging procedures to restore the operational competitiveness of ports.
Taranto Recommends: The Regasification Plant Would Promote the Port's Revitalization
Taranto
Melucci: a lifeline for the entire port system and for our city's economic growth.
Cargo and cruise traffic in eastern Sicily ports is on the rise
Catania
In the container segment, an increase of +27.9% was recorded
FS Logistix and Lineas form joint venture to manage the Antwerp Mainhub Terminal
Antwerp
Rail services between Antwerp and Milan expected to increase
Attack on a product tanker in the Red Sea
Southampton
A missile fell near the ship which suffered no damage
Sea trials have been completed for the new GNV Virgo ro-pax vessel.
Genoa
It will be GNV's first liquefied natural gas ship
Companies inform
Accelleron and Geislinger: An Evolving Technical Collaboration
In the first half of the year, Singamas' container sales decreased by -10%.
Hong Kong
The average selling price dropped by -3.8%
COSCO Shipping Holdings Group's revenues fell by -3.4% in the second quarter of 2025.
COSCO Shipping Holdings Group's revenues fell by -3.4% in the second quarter of 2025.
Shanghai
Sharp decline in economic performance in the trans-Pacific and Asia-Europe markets
For Federlogistica, the bridge over the Strait of Messina will have the miraculous power to gradually eliminate a framework of social injustices.
For Federlogistica, the bridge over the Strait of Messina will have the miraculous power to gradually eliminate a framework of social injustices.
Genoa
Falteri: it can become the artery of an economic and social body that has been underdeveloped to date
SBB CFF FFS Cargo's half-year performance was negative.
Bern
The Swiss company announced a drop in volumes in both domestic and transit traffic.
COSCO Shipping Ports reports record quarterly revenue
Hong Kong
In the April-June period, net profit was 122.4 million dollars (+32.4%)
Cargo traffic at Chinese seaports hit a new record high in July
Cargo traffic at Chinese seaports hit a new record high in July
Beijing
Foreign traffic amounted to 427.6 million tonnes (+6.1%)
South Korea's HD Hyundai Heavy Industries Co. and HD Hyundai Mipo Co. to merge
Seoul
The completion of the operation is expected for next December 1st.
Filt Cgil, priority should be given to valorizing AdSP workers rather than assigning positions
Rome
The union denounces the failure to comply with the National Collective Labour Agreement
In the second quarter of this year, freight traffic in the port of Venice grew by +4.1%
Venice
There were 228 thousand cruise passengers (+12.8%)
COSCO Shipping International's revenues increased by 10.3% in the first half of the year.
Hong Kong
Net profit was HK$494.6 million (+26.0%)
G20 nations' merchandise trade showed modest growth in the second quarter
Geneva
The increase in trade in services was more pronounced
South Korea's HD Hyundai announces multibillion-dollar investment program to revitalize the U.S. shipbuilding industry.
South Korea's HD Hyundai announces multibillion-dollar investment program to revitalize the U.S. shipbuilding industry.
Seongnam
Agreements with the US investment firm Cerberus Capital and the Korea Development Bank
MSC World Europa cruise ship crashes off the coast of Ponza
Rome
The Coast Guard reports that the situation on board, where there are 8,585 people, is calm and under control.
MSC World Europa has resumed autonomous sailing
Rome
Electrical problem solved, the cruise ship is headed for the port of Naples
PostEurop warns that from August 29, shipments of goods to the USA could be limited or suspended
Brussels
Last month, Trump eliminated tariff exemptions for low-cost goods.
Chinese oil company OOIL sees growth in its half-year financial results.
Hong Kong
In the first six months of this year, revenues increased by +5.0%
Premier Alliance to split Mediterranean Pendulum 2 service next month
Seoul/Singapore/Keelung
Investment firm CVC Capital Partners exits Boluda Maritime Terminals and TTI Algeciras
Schiphol
The two terminal companies manage a total of nine Spanish port terminals
ZIM's quarterly economic and operating performance declines
ZIM's quarterly economic and operating performance declines
Haifa
In the period April-June the average value of freight rates fell by -11.6%
Interferry's Entry/Exit System risks delaying ferry operations at European ports.
Victoria
The system will come into force on October 12th
DFDS closes second quarter with a loss
Copenhagen
In the period April-June 2025 the fleet transported 10.6 million linear meters of rolling stock (-0.4%)
Ammonia and methanol are ready to decarbonize shipping, but some obstacles to their use must be removed.
New record quarterly results for the American cruise group Viking
New record quarterly results for the American cruise group Viking
Los Angeles
The April-June period closed with a net profit of 439.2 million dollars (+182.2%)
Container traffic in the port of Barcelona grew by 1.8% last month.
Barcelona
202,321 TEUs handled at loading and unloading (+10.4%) and 142,492 TEUs in transit (-8.3%)
In the second quarter of 2025, freight traffic in the Port of Hamburg grew by +4%
In the second quarter of 2025, freight traffic in the Port of Hamburg grew by +4%
Hamburg
Sharp increase in transshipment container volumes (+26%)
Norway's Xeneta has bought Denmark's eeSea
Oslo
Both companies provide data and information for the optimization of containerized maritime transport
In the April-June quarter, freight traffic in Tunisian ports decreased by -3.8%
La Goulette
In the first six months of 2025, 13.8 million tonnes were handled (-3.2%)
Port of Koper sets new quarterly records for containers and rolling stock
Ljubljana
In the period April-June, 5.6 million tons of goods were moved (-4.1%)
Port of Los Angeles hits record monthly container traffic
Los Angeles
Over one million TEUs were handled in July (+8.5%)
Hapag-Lloyd reports second quarter increases of +2.0% in revenues and +12.4% in containers transported by the fleet
Hapag-Lloyd reports second quarter increases of +2.0% in revenues and +12.4% in containers transported by the fleet
Hamburg
Net profit fell by -39.4%
Evergreen reports an 18.7% drop in quarterly revenues
Taipei
The April-June period closed with a net profit decrease of -62.9%
South Korean company HMM's revenues fell by 1.5% in the second quarter.
Seoul
Trump announces rejection of IMO's shipping decarbonization program
Washington
The proposed framework - it is denounced - is in effect a global carbon tax that affects Americans and is imposed by an irresponsible United Nations organization.
Taiwanese companies Yang Ming and Wan Hai Lines reported negative results in the second quarter.
Taiwanese companies Yang Ming and Wan Hai Lines reported negative results in the second quarter.
Keelung/Taipei
In the period April-June, revenues decreased by -26.5% and -8.7% respectively
Cruise traffic at Global Ports Holding terminals grew by 6.0% in the second quarter
Istanbul
In the first six months of 2025, an increase of +16.7% was recorded
In the period April-June, cargo traffic in Croatian ports decreased by -4.0%
Zagreb
Cruise passengers grow by +5.4%
Container traffic at US ports is expected to plummet in the second half of this year.
Washington/Long Beach
In July, the Port of Long Beach handled 944,000 TEUs (+7.0%)
ThyssenKrupp shareholders approve spin-off of ThyssenKrupp Marine Systems
Eat
The company will be listed on the Frankfurt Stock Exchange
WTO: Measured responses have cushioned the impact of tariffs in 2025, but risks remain high for 2026.
WTO: Measured responses have cushioned the impact of tariffs in 2025, but risks remain high for 2026.
Geneva
Global trade in goods is expected to grow by 0.9% this year
Hupac will increase the number of weekly rotations between Busto Arsizio and Basel from five to eight
Noise
Increase in attendance from September 1st
From January 1st, new bunkering regulations will apply in the ports of Rotterdam and Antwerp.
Rotterdam
The barges must be equipped with flow meters
Maersk reports higher quarterly revenue, lower earnings
Maersk reports higher quarterly revenue, lower earnings
Copenhagen
Terminals and logistics have made a positive contribution. Container shipping benefits from demurrage revenues.
The CIPESS has approved the final project for the bridge over the Strait of Messina.
Rome
Construction will begin this year and the project will be completed in 2032.
DHL Group revenues fell by 3.9% in the second quarter
DHL Group revenues fell by 3.9% in the second quarter
Bonn
Significant reduction in shipments from China and Hong Kong to the US due to Trump's abolition of the de minimis regime
The Grendi group has acquired 70% of Dario Perioli Spa
The Grendi group has acquired 70% of Dario Perioli Spa
Milan
The remaining 30% will remain with Fingiro, owned by Michele Giromini, the company's CEO.
BigLift Shipping and CY Shipping order two additional heavy lift vessels
Amsterdam
Order placed at Chinese shipyard Jing Jiang Nanyang Shipbuilding Co.
The Charthage ferry was placed under administrative detention in the port of Genoa
Genoa
A Coast Guard inspection found numerous deficiencies
Disney Cruise Line's largest ship's debut delayed by three months
Lake Buena Vista
Construction delays force the maiden voyage to be postponed until March 10th.
Shell to supply liquefied biomethane to Hapag-Lloyd containerships
Hamburg
Agreement effective immediately
Andrea Zoratti has been appointed general manager of Hub Telematica
Genoa
The company is controlled by Assagenti and Spediporto
Jotun and Messina sign agreement to improve the environmental and commercial performance of ships.
Genoa
The "Jolly Rosa" vessel will use the Hull Skating Solutions solution
PSA Genova Pra' announces the hiring of 25 people dedicated to container handling.
Genoa
Ferrari: International markets have changed profoundly
CMA CGM will not apply surcharges for new US taxes on Chinese vessels and Chinese services
Marseille
The rates announced by the USTR in April will apply from October 14th.
South Korean HJ Shipbuilding wins orders for four 8,850 TEU containerships
Busan
Orders with a total value of approximately 461 million dollars
Conference: "Waiting and Delays in Road Transport: Logistics in Check"
Genoa
Organized by Trasportounito, it will be held on September 26th in Genoa
GNV has inaugurated a new office in Barcelona
Barcelona
The company currently has 52 employees throughout Spain.
Port of Trieste: EU funding for two new projects
Trieste
Resources with a total value of 1.7 million euros
Filt Cgil, the Flotilla incident is serious. Dockworkers are ready to mobilize.
Rome
Union announces action if aid is not allowed to reach Gaza
SAILING LIST
Visual Sailing List
Departure ports
Arrival ports by:
- alphabetical order
- country
- geographical areas
In the first eight months of 2025, container traffic in the port of Gioia Tauro grew by +10.6%
Gioia Tauro
2,912,943 TEUs were handled
Stena Line to buy Latvian port operator Terrabalt
Gothenburg
It handles rolling stock, bulk cargo, and general cargo traffic in the port of Liepaja.
Meyer Turku begins construction of Royal Caribbean's fourth "Icon"-class cruise ship
Miami/Turku
It will be delivered in 2027
More than one in ten maritime shipments has shortages
Washington
This is what a report by the World Shipping Council has revealed, highlighting the safety risks
Last July, traffic in the port of Ravenna increased by +3.8%
Ravenna
In the first seven months of 2025, growth was +5.4%
In the first quarter of 2025, freight traffic in Belgian ports fell by -3.2%.
Brussels
Landings down 1.3% and embarkations down 5.4%
Product tanker High Fidelity rescues 38 migrants on a drifting dinghy
Rome
Intervention in the south of the island of Crete
GES and RINA sign agreement to develop a prototype of a new hydrogen battery
Rovereto/Genoa
PSA's second phase of container terminal at Mumbai Port inaugurated
Singapore
Annual traffic capacity will increase to 4.8 million TEUs
The conference "EU ETS - Perspectives and Opportunities for Decarbonization in the Maritime Sector" will be held in Palermo.
Rome
It will be held on September 18th and 19th
Fincantieri and PGZ sign an agreement to support the modernization of the Polish Navy
Trieste
The third LSS section for Chantiers de l'Atlantique was launched in Castellammare di Stabia.
In the US, funding for wind energy development projects in ports is being cut.
Washington
Resources worth $679 million will be reallocated for port infrastructure upgrades
From January 1st, Kombiverkehr will operate the PKV intermodal terminal in the port of Duisburg.
Frankfurt am Main
It has a traffic capacity of approximately 200 thousand intermodal units per year.
Wallenius Marine and ABB form Overseas joint venture
Stockholm
The aim is to accelerate the launch of the platform of the same name for improving fleet performance.
DHL eCommerce has acquired a minority stake in Saudi Arabia's AJEX Logistics Services.
Bonn/Riyadh
The Middle Eastern company has two thousand employees
The Ministry of Infrastructure and Transport has asked the Region to agree on the appointment of Bagalà as president of the Sardinian Port Authority.
Rome
He is currently the extraordinary commissioner of the same body
CMPort's port terminals handled record container traffic in the second quarter
Hong Kong
In the first six months of 2025 the total was 78.8 million TEUs (+4.3%)
Confitarma approves the decree on advanced training for tanker seafarers.
Rome
Applause to the General Command of the Port Authority Corps
Quarterly freight traffic in Moroccan ports increases
Tangier/Casablanca
In Tanger Med the growth was +17%
The board of directors of the Genoa-based Ente Bacini has been renewed.
Genoa
President Alessandro Arvigo and CEO Maurizio Anselmo
In the second quarter, sales of dry containers produced by CIMC fell by -33%.
Hong Kong
Reefer boats increase by 57%
The Grimaldi Group has taken delivery of the Grande Shanghai
Naples
It will be used for the transport of vehicles between East Asia and Northern Europe
The ART urges to verify that the investment plan and the related amortization period are consistent with the duration of the port concessions.
Turin
Chinese automaker FAW ships components to Europe by train
Changchun
Transit time reduced to 18 days compared to 45 days for maritime transport
The assets and fleet of the Spanish Armas Trasmediterránea will be sold to Baleària and DFDS
Las Palmas/Dénia/Copenhagen
Two agreements worth €215 million and €40 million respectively have been signed.
Italian State Railways (FS), investing €70 million to install the ERTMS system.
Rome
Work has been completed on 382 Trenitalia trains, while the retrofitting of 60 locomotives from Mercitalia Rail, an FS Logistix company, is underway.
MPC Container Ships' quarterly revenue returns to growth
The second quarter of 2025 was closed with a net profit of 78.1 million dollars (+20.5%)
Plans to build two container customs areas north and south of the Suez Canal
Cairo
Fourteen of the 48 abandoned shipwrecks in Catania port have been removed.
Catania
The activity will be replicated in the port of Augusta
The Regional Administrative Court (TAR) has confirmed the validity of the tender for the new Ravano Terminal in the port of La Spezia.
La Spezia
DP World's port terminals handled record quarterly container traffic
Dubai
Revenues grew by 22.2% in the first half of 2025
In the quarter April-June the volume of rolling stock transported by Höegh Autoliners increased by +9.0%
Oslo
Sharp increase (+46.6%) of vehicles from Asia
South Korea's HD Korea Shipbuilding & Offshore Engineering acquires Vietnam's Doosan Enerbility
Seongnam
It manages an industrial area with its own port facility
Container traffic in the port of Algeciras grew by 6.6% in July
Algeciras
In the first seven months of 2025, a decrease of -2.9% was recorded
In July, the port of Valencia handled 488,000 containers (+6.7%)
Valencia
Increase driven by growth in empty containers
Salvini has appointed Annalisa Tardino as extraordinary commissioner of the Western Sicilian Sea Port Authority.
Rome/Palermo
The President of the Sicilian Region announces the appeal against the provision
The materials dredged in the ports of La Spezia and Carrara will be used for the construction of the new breakwater in Genoa.
Genoa/La Spezia
Agreement between the two Ligurian Port System Authorities
X-Press Feeders denounces authorities' failure to acknowledge responsibility in the X-Press Pearl accident
Singapore
According to the company, the Supreme Court ruling ignores international maritime law
Container traffic in the port of Hong Kong decreased by -6.5% in July
Hong Kong
A decline of -3.7% was recorded in the first seven months of 2025
Cargo traffic in Russian ports remained stable in July
St. Petersburg
In the first seven months of 2025, loads decreased by -4.6%
In July, the Port of Singapore set a new all-time record for monthly container traffic with 3.9 million TEUs.
Singapore
In terms of weight, containerized cargo decreased by -3.6%
Compensation to be paid by the Civitavecchia Port Authority in the Fincosit case has been set at €1.5 million.
Civitavecchia
Latrofa: The ruling allows the release of set-aside sums that have frozen the budget for years.
Germany's HHLA posts record quarterly revenue
Hamburg
In the second quarter, the group's port terminals handled 3.2 million containers (+7.9%)
In the first half of 2025, CK Hutchison's port terminals handled 44 million containers (+4.0%)
Hong Kong
In the quarter April-June the Wallenius Wilhelmsen fleet transported 14.8 million cubic meters of rolling stock (-0.5%)
Lysaker
Revenues down by -0.7%
In the second quarter, Montenegro's ports handled 670 thousand tons of goods (+0.6%)
Podgorica
Volumes with Italy amounted to 154 thousand tons (+53.1%)
PORTS
Italian Ports:
Ancona Genoa Ravenna
Augusta Gioia Tauro Salerno
Bari La Spezia Savona
Brindisi Leghorn Taranto
Cagliari Naples Trapani
Carrara Palermo Trieste
Civitavecchia Piombino Venice
Italian Interports: list World Ports: map
DATABASE
ShipownersShipbuilding and Shiprepairing Yards
ForwardersShip Suppliers
Shipping AgentsTruckers
MEETINGS
Conference: "Waiting and Delays in Road Transport: Logistics in Check"
Genoa
Organized by Trasportounito, it will be held on September 26th in Genoa
The conference "EU ETS - Perspectives and Opportunities for Decarbonization in the Maritime Sector" will be held in Palermo.
Rome
It will be held on September 18th and 19th
››› Meetings File
PRESS REVIEW
Korean Firms Reassess U.S. Investments After Mass Immigration Raid
(The Korea Bizwire)
Russia's infrastructure development plan aims to build 17 marine terminals by 2036
(Interfax)
››› Press Review File
FORUM of Shipping
and Logistics
Intervento del presidente Tomaso Cognolato
Roma, 19 giugno 2025
››› File
With the arrival of the first container ship, the testing of operational procedures at the Rijeka Gateway begins.
The Hague
The first commercial ship is expected on September 12th
A proposal to bring the port of Taranto back onto global container routes? Start a discussion table.
Taranto
Meeting on the status of freight traffic
Port of Ancona: Tender for demolition of fire-damaged Tubimar warehouses
Ancona
The expected duration of the works is four and a half months
Merger of the German MACS and Hugo Stinnes, both active in the MPP vessel segment
Hamburg/Rostock
Stinnes headquarters in Rostock to close by December 31
In the second quarter, freight traffic in Albanian ports grew by +2.9%
Tirana
There were 331 thousand passengers (+13.6%)
A.SPE.DO, operationalizing the Smart Terminal to increase the competitiveness of the port of La Spezia.
La Spezia
ING loans to Premuda for over 100 million dollars
Milan
Funds for the management buyout and the purchase of two product tankers
Sallaum Lines has taken delivery of the first of six Ocean-class dual-fuel PCTCs
Rotterdam
The ship was completed four months ahead of schedule
First meeting of the new Management Committee of the Western Ligurian Sea Port Authority
Genoa
Several measures approved, including those for CULMV and CULP staff
Euroports to operate a new liquid bulk terminal in the French port of Port-La Nouvelle
Beveren-Kruibeke-Zwijndrecht
It is expected to become operational in 2026
In the second quarter, freight traffic in the port of Ravenna increased by +2.6%
Ravenna
Growth of 0.6% was recorded in June. An increase of 4.8% is expected in July.
OsserMare presents five reports on the marine economy
Rome
They focus on a specific sector supply chain or aspect of it
Port of Naples: Road haulage operations resume
Naples
Resolution meeting between institutions, operators and trade associations
ICTSI again reports record quarterly financial and operating results
Manila
Global Ship Lease Reports Record Quarterly Revenue
Athens
In the April-June period, net profit was 95.4 million dollars (+8.4%)
Vard receives new order from North Star for two hybrid SOVs
Trieste
Contract worth between 100 and 200 million euros
The Panama Shipping Registry will no longer accept the registration of oil tankers and bulk carriers over 15 years old.
Panama
Measure to counter the use of the shadow fleet
Danaos Corporation reports record quarterly revenue
Athens
The April-June period closed with a net profit of 130.9 million (-7.3%)
New customs fast corridor between the port of La Spezia and Interporto Padova
Padua
It adds to the other three already active on the same route
ICTSI to operate Indonesia's Batu Ampar Container Terminal
Manila
It is located on Batam Island
Pino Musolino has been appointed CEO of the Alilauro shipping company.
Naples
He replaces the resigning Eliseo Cuccaro
In the second quarter, DIS' time charter revenues fell by -37.1%.
Luxembourg
Net income was $19.6 million (-70.5%)
Wista Italy denounces the exclusion of women from the nominations of port authority presidents.
Milan
Musso: The glass ceiling that prevents women from accessing leadership roles remains.
Austrian Rail Cargo Group is focusing on the development of the Sommacampagna-Sona intermodal terminal.
Vienna
Ten-year agreement
In the second quarter, maritime traffic in the Bosphorus Strait decreased by -6.0%
Ankara
18.1% decline in ships over 200 metres in length
Fifty kilos of cocaine seized at the port of Civitavecchia
Rome
They were hidden inside a reefer container arriving from Ecuador
Trump has eliminated tariff exemptions for low-cost goods for all nations.
Washington
Goods with a value of less than $800 will also be subject to the tax.
Viking Mira was launched at Fincantieri's Ancona shipyard
Trieste
The multi-role frigate "Emilio Bianchi" was delivered to the Muggiano shipyard
The Port Authority of the Central-Northern Adriatic Sea has obtained EMAS registration
Ravenna
Certifies commitment to environmental management and sustainability
MSC Cruises reduces emissions with the support of an energy transition plan
Geneva
The 2024 Sustainability Report has been presented
DSV reports strong growth in financial and operating results thanks to the acquisition of Schenker
Hedehusene
Quarterly record in air and ocean shipment volumes
In 2024, the Fratelli Cosulich group's revenues increased by +12.8%
Genoa
Operating result down by -31.7%
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio
No part may be reproduced without the express permission of the publisher
Search on inforMARE Presentation
Feed RSS Advertising spaces

inforMARE in Pdf
Mobile