Dependency on Asia-led growth continues
The latest update of global freight data collected by the International Transport Forum at the OECD through December 2013 reinforces Asia's role as the locomotive of growth.
The date showed that US and EU27 external trade, measured in tonnes of goods moved, remained stagnant. Dependency on Asia, especially China, for global growth intensified and Brazil's external trade by air, considered as a lead indicator, declined to below pre-crisis levels. Inland freight stayed weak in the EU zone, the USA and the Russian Federation.