Rebound from recession 'spectacular'
OECD says east-west trade recovery has been 'quick' and 'strong'
The re-balancing of import and export volumes between western economies and Asia since the end of the recession, has been "spectacular", it is claimed.
Recent research by the Organisation for Economic Co-operation and Development’s (OECD) International Transport Forum has shown that exports from Europe and North America to Asia are growing at a faster rate than imports.
Kurt Van Dender, Chief Economist, OECD Transport Research Centre, said: “What we move out of the EU in terms of tonnes on aeroplanes to China, including Hong Kong, now is quite a bit higher than it was before the [economic] crisis.
"It’s quite spectacular to see how quick and how strong the re-bound has been.”
Volumes were strongest from Germany, which has exceeded pre-recession levels, and the Netherlands, but less so for the UK and France.
European imports from China were also recovering, but had yet to exceed pre-crisis levels in Germany, the Netherlands, UK or France.
“Growth in demand for Chinese products in the EU is picking up, but slowly, where as growth in demand for products from the EU is growing much more quickly.
“We see an evolution and that evolution is re-balancing, a shift of economic mass to China and other emerging economies.”
Charlie Dobbie, Executive VP for Global Network Operations and IT at DHL Express, said this trend had taken the company by surprise. It had also taken place on the transpacific trade, he added.
“These statistics reflect the loads we are carrying on the transpacific trade,” said Dobbie. “Out of China, the aircraft are full and coming back out of the US they are half-full, which is way more than what we would have thought.
“We had budgeted for them to be virtually empty coming back, and to our surprise we are seeing much stronger exports from the US.”
Recent research by the Organisation for Economic Co-operation and Development’s (OECD) International Transport Forum has shown that exports from Europe and North America to Asia are growing at a faster rate than imports.
Kurt Van Dender, Chief Economist, OECD Transport Research Centre, said: “What we move out of the EU in terms of tonnes on aeroplanes to China, including Hong Kong, now is quite a bit higher than it was before the [economic] crisis.
"It’s quite spectacular to see how quick and how strong the re-bound has been.”
Volumes were strongest from Germany, which has exceeded pre-recession levels, and the Netherlands, but less so for the UK and France.
European imports from China were also recovering, but had yet to exceed pre-crisis levels in Germany, the Netherlands, UK or France.
“Growth in demand for Chinese products in the EU is picking up, but slowly, where as growth in demand for products from the EU is growing much more quickly.
“We see an evolution and that evolution is re-balancing, a shift of economic mass to China and other emerging economies.”
Charlie Dobbie, Executive VP for Global Network Operations and IT at DHL Express, said this trend had taken the company by surprise. It had also taken place on the transpacific trade, he added.
“These statistics reflect the loads we are carrying on the transpacific trade,” said Dobbie. “Out of China, the aircraft are full and coming back out of the US they are half-full, which is way more than what we would have thought.
“We had budgeted for them to be virtually empty coming back, and to our surprise we are seeing much stronger exports from the US.”
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