- East & Southeast Asia Drive 33% Rise in Global Container Imbalances.
- Global Container Market Growth Uneven, Imbalances Hit 70% of Trade.
- Export Growth from Asia Outpaces Global Market, Increasing Trade Gaps.
Global container market growth has glimmered 8% per annum since 2019. However, trade imbalances within different control zones have been unevenly impacted, reports BIMCO.
Increase in Trade Imbalances
Regional imbalances between exports and imports have increased by 33% since 2019. In 2019, these inter-regional trade imbalances stood at 58.8 million TEUs, or 52% of inter-regional trade. By 2024, they will rise to an estimated 84.9 million TEUs, or 70% of inter-regional trade.
A Major Source of Imbalances
In absolute terms, East & Southeast Asia experienced the largest imbalance, which rose from 29.4 million TEUs in 2019 to 42.4 million TEUs in 2024. The region, in 2024, imported one TEU for every three TEUs it exported.
Driving Factors for Imbalances
“The increase in trade imbalances has been driven by faster export growth from East & Southeast Asia compared with all other regions except Sub-Saharan Africa. In fact, exports from the Asian region have grown by 10.9m TEU, whereas the total inter-regional market has grown by only 9.5m TEU since 2019,” says Rasmussen.
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Source: BIMCO
