Global container traffic increased by 6% in 2024
According to Container Trade Statistics Limited (CTS), global container traffic increased by 6% in 2024 compared to 2023.
According to CTS, a total of 183.2 million 20-TEUs were lifted in May, August and December of 2024, exceeding 16 million TEUs each month for a "first time in history."
CTS added that the achievement marks a sharp rebound from slower growth in 2023, which was dampened by a surge in post-pandemic demand and inventories in 2022.
North America saw the strongest import growth in 2024, with a 12 percent year-on-year increase, marking a sharp recovery from the region's 5 percent decline in 2023. While North America remains the third-largest import market, it continues to close in on Europe, which is in second place.
Exports from the Far East to North America increased by 14%, with Los Angeles maintaining its position as the main gateway to the region, handling more than 90% of Far East cargo.
The Far East was the top performing export region in 2024, up 8% from 2023 and 10% from 2022. The region's share of global exports climbed to 61 percent from 59 percent last year.
Growth in dry goods was particularly strong, while refrigerated goods also performed well, with the Far East maintaining its position as the second largest exporter of refrigerated goods, after South and Central America, which is the main region for the refrigerated trade.
Exports from the Far East to North America remained the main growth driver, while exports to Europe, the Indian subcontinent and the Middle East also saw significant growth. Europe grew by 9% year on year, while exports to the Indian subcontinent and the Middle East were 12% higher than in 2023 and 35% higher than in 2022.
Despite a decline in export volumes due to geographical constraints, Oceania saw growth in 2024, particularly in trade with the Indian subcontinent and the Middle East. Exports from this route increased by 34% year-on-year and by 58% compared to 2022. India has played a major role in this expansion, with imports from the region more than doubling in the past two years.
CTS said that despite the strong momentum in global trade, not all markets saw growth. Germany will see the biggest drop in exports in 2024, down 4% year on year. This follows a 3 percent decline in 2023, continuing a downward trend, mainly due to lower shipments to China.
Overall, 2024 was a strong year for global container trade, with North America and the Far East leading the growth. Looking ahead, the key question remains: Will the record output of 2024 continue into 2025, or will the market stabilize? Can emerging economies like India continue to expand rapidly? "Said CTS.
CTS said that despite ongoing challenges including pandemics, economic uncertainty and geopolitical changes, "the global container market continues to adapt to the environment."
