Transportation / Logistics Industry Trends 2023

Market Monitor

  • Australia,
  • Austria,
  • Belgium,
  • Brazil,
  • Canada,
  • China,
  • Czech Republic,
  • Denmark,
  • Finland,
  • France,
  • Germany,
  • Greece,
  • Hong Kong,
  • Hungary,
  • India,
  • Indonesia,
  • Ireland,
  • Italy,
  • Japan,
  • Malaysia,
  • Mexico,
  • Netherlands,
  • New Zealand,
  • Philippines,
  • Poland,
  • Portugal,
  • Singapore,
  • Slovakia,
  • South Korea,
  • Spain,
  • Sweden,
  • Switzerland,
  • Taiwan,
  • Thailand,
  • Turkey,
  • United Arab Emirates,
  • USA,
  • United Kingdom,
  • Vietnam
  • Automotive/Transport

12th December 2023

Industry growth decelerating this year

The main factor affecting the industry’s growth levels is a slowdown of the global economy in H2 of 2023. Supply chain pressures in transportation have receded, and prices for international shipping along several major routes have returned to pre-pandemic levels.

In 2022, global transportation and logistics output had increased by 6.4%, slowing to 5.2% this year. Despite a robust performance in emerging markets in 2023, global transportation and logistics output growth is predicted to decelerate to 3.8% in 2024. This is due to a subdued US economic performance, a slowdown in China, and the effects of worldwide monetary policy tightening.

Weaker goods trade and consumption will weigh on freight transport segments in the coming months. Households are reluctant to purchase durable goods, prioritising their spending on services, while businesses hold off inventory restocking in the face of weaker demand.

Please download the report below to read more about the sector´s outlook in the Americas, Asia-Pacific and Europe.

 

Related documents

Disclaimer

Each publication available on or from our websites, such as, but not limited to webpages, reports, articles, publications, tips and helpful content, trading briefs, infographics, videos (each a “Publication”) is provided for information purposes only and is not intended as a recommendation or advice as to particular transactions, investments or strategies in any way to any reader. Readers must make their own independent decisions, commercial or otherwise, regarding the information provided. While we have made every attempt to ensure that the information contained in any Publication has been obtained from reliable sources, Atradius is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in any Publication is provided ’as is’, with no guarantee of completeness, accuracy, timeliness or of the results obtained from its use, and without warranty of any kind, express or implied. In no event will Atradius, its related partnerships or corporations, or the partners, agents or employees thereof, be liable to you or anyone else for any decision made or action taken in reliance on the information in any Publication, or for any loss of opportunity, loss of profit, loss of production, loss of business or indirect losses, special or similar damages of any kind, even if advised of the possibility of such losses or damages.