September 30, 2022

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An increase in import prices is predicted due to higher commodity prices

In its latest report on maritime transport 2021, the United Nations Conference on Trade and Development (Unctad) promised that this increase would be reflected in the value of goods in stores.

In this regard, he estimates that global consumption will increase by 1.5 percent by 2023, which would have been without an increase in maritime traffic, affecting smaller economies that depend on imports, as well as purchasing North American and European countries. Lots in East Asia.

Many globalized intermediate consumer goods travel in large quantities on board: computers and electronic and optical products, as well as other low-value goods and textiles, clothing and leather.

In its analysis, Unctad noted that this situation would undermine the economic recovery because it is difficult for companies to find the products to produce and sell to customers.

For example, in the United States and the Eurozone, a 10 percent increase in container freight rates would lead to an overall shrinkage of one percent in industrial production.

The study reviews the so-called decline in demand recorded during imprisonment by the Govit-19 epidemic, followed by new orders in early 2021, in the case of container vessels, at levels not seen in the last 20 years.

jf / crc

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