According to Alphaliner data and various industry sources, the Far East–Europe and Transpacific trade routes have seen significant growth from 2020 to 2024, pointing to the emergence of East Asia as a pivotal region for the global shipping industry, reports Container News.
Robust Trade Dynamics
These figures are indicative of robust trade dynamics, driven by the Far East’s critical position in the global supply chain. While the Transatlantic trade route also saw growth, it was more modest.
The growing capacity on both the Far East–Europe and Transpacific routes highlights the growing importance of the Far East in the global trade sector. As the middle region of Asia strengthens its role, it’s not only functioning as a production center but also as a major hub for logistics and shipping.
In the following graphic, it can be observed that world merchandise exports experienced a significant increase in the first quarter of 2024, with exports growing by 1.65%, marking a shift change after flat growth throughout 2023. The export growth trajectory shows a sharp rise following a period of fluctuating growth rates during the previous quarters of 2022 and 2023, where exports were mostly stagnant or negative, especially in late 2022.
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Source: Container News
