2011 Results of Far East – Europe/Med trade in 2011
15 March 2012
The combined 2011 North Europe and Mediterranean-Far East trade increased by 4.5% year-on-year to 19,973,000 TEU. Westbound (to Europe) trade volumes were up by a meagre 2.8%, eastbound by a higher 8.7%.
However, when considering the two areas separately, it appears that imports from the Far East to North Europe actually declined, by 3.4%, to 8,699,000 TEU, a number which is even somewhat lower than that of pre-crisis year 2008. Exports to the Far East (eastbound) rose by a only 1.3% and are therefore also lower than those of 2008. Overall twoway trade dropped by 1.9% to 12,784,000 TEU.
Trade 2011 2010 2009 2008
TEU TEU TEU TEU
WB to N. Europe 8,699 9,002 7,546 8,796
WB growth -3.4% 19.3% -14.2%
EB to Far East 4,085 4,032 4,180 4,094
EB growth 1.3% -3.6% 2.1%
Total 12,784 13,034 11,726 12,890
Total growth -1.9% 11.2% -9.0%
Imbalance TEU 4,614 4,971 3,365 4,703
Imbalance % 53% 55% 45% 53%
(1,000 TEU)
So, in reality, it was the Mediterranean that saved the overall Europe-Far East trade last year. Westbound to the Med growth stood at a healthy 15%, while exports to the Far East were nearly 28% higher. The total Mediterranean-Far East volume reached 7,189,000 TEU, plus 18% year-on-year, and is now more than 23% higher than in 2008. This explains the recent increased activity in that area, with various ULCS shifting to the Med-far East route and new services launched.
Trade 2011 2010 2009 2008
TEU TEU TEU TEU
WB to Med. 5,222 4,536 3,989 4,698
WB growth 15.1% 13.7% -15.1%
EB to Far East 1,967 1,538 1,336 1,141
EB growth 27.9% 15.1% 17.1%
Total 7,189 6,074 5,325 5,839
Total growth 18.3% 14.1% -8.8%
Imbalance TEU 3,255 2,998 2,653 3,556
Imbalance % 62% 66% 67% 76%
(1,000 TEU)
