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TRANSPORT INTELLIGENCE reports:
After experiencing one of its most challenging years to date amid the Covid-19 pandemic, the global freight forwarding market bounced back strongly and grew by 11.2% in real terms (holding prices and exchange rates constant) in 2021.
This is the largest growth rate since 2011, bringing the market value to €269,656m.
(Source Transport Intelligence)
Growth in the freight forwarding market is a function of macroeconomic conditions and is largely determined by the strength of international trade. According to UNCTAD, global trade reached a record high in 2021 at around US$ 28.5 trillion, which is an increase of almost 13% relative to pre-pandemic levels.
The strong growth in international trade in 2021 was mainly the result of pandemic restrictions being phased out and surging demand for goods encouraged by government support schemes and economic stimulus packages introduced in many countries. Factors such as the expansion of the e-commerce industry and the rise of free trade agreements have also been contributors to the growth of the global digital freight forwarding market…
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