Ti: Digital connection drives new type of globalised trade

© Marina Putilova

TRANSPORT INTELLIGENCE writes:

A world connected more than ever before sees expat populations settling in every part of the world. India (17.5 million), Nigeria (17 million), and Mexico (11.8 million) are the three largest expat groups around the world. Whilst B2B globalized trade is on the decline, a new era of C2C trade may be growing, whilst unable to demand the huge volumes the B2B industry does it is a growing segment of world trade that provides opportunities for small community-based freight forwarders.

Notable examples of these opportunities are in the most diverse economies in the World, namely The United Kingdom, The United States, France, and now ever increasingly countries in the middle east with global cities such as Dubai and Doha. In the UK’s 2021 Census, 1.1 million individuals identified as Caribbean. The Caribbean community has a long tradition of sending ‘Barrels’ back to families who remain on the volcanic islands. These Barrels tend to be 50-220 Litre plastic drums filled to the brim with goods and presents for the families back home, a combination of clothes, food, and items with a strong sell-on value back in the homeland. This is evidence of trade relationships driven not by business activity, but rather individuals.  

Modern multicultural communities are also now better connected to the homeland than ever before. This is allowing expats to purchase goods either directly or through a friend/family member abroad very easily on websites or using messenger apps such a WhatsApp. 1.6 million of participants of the UK’s 2021 census identify as Pakistani, this population has created a strong trading bond between the two countries which looks set to grow and grow following Brexit. Pakistan’s Exports to the UK totalled $2.1bn in 2021 and The British High Commissioner to Pakistan forecast this to double by 2025…

The full post is here.