European Countries With Strong Export Economies Hit Hard
Germany, France and the Benelux states are feeling the impact of the global economic slowdown. These are the current numbers on the TIMOCOM transport barometer, which this IT company uses every quarter to document the development of transport offers and requests on Europe’s largest freight exchange.
The number of freight offers made on the market via TIMOCOM between the beginning of April and the end of June 2019 was 20 per cent lower than in the same quarter of last year.
“The U.S. Government’s protectionist economic policies are hampering global trade, which in turn reduces the amount of goods exported. Export-orientated countries like Germany, France and the Benelux states are suffering the worst effects,” says TIMOCOM Business Analyst David Moog.
In total, the freight smart app, which companies can use to place and manage their freight transport offers on the freight exchange, hosted 21,817,810 offers in the second quarter, while the number of offers for the same period last year was 27,565,605. Moog reports that the decline is having a major impact on the transport of industry and investment goods, from the supplier industry amongst others.
The impending Brexit is also taking its toll. “After transport to Britain increased in the first quarter, as companies increased the amount of goods in stock, we are now seeing a market downturn,” reports Moog. For example, the number of exports from Europe to the UK in the second quarter decreased by 56 per cent compared to the same quarter of last year, according to TIMOCOM.
This is despite the development of exports in Southern Europe. Italy, Spain, Portugal and Greece transported significantly more goods to other European countries this quarter than in the previous year, with the growth of 21%. Moog: “the fruit and vegetable season in these countries is in full swing.”
The transport barometer is an instrument used by this IT company to analyse quarterly trends in transport offers and demand as found on the freight exchange, which is part of the TIMOCOM Smart Logistics System. With more than 130,000 users and up to 750,000 international freight and vehicle offer daily, TIMOCOM is the largest digital system for the road transport of goods in Europe.
You can find more information on TIMOCOM at www.timocom.com.
TIMOCOM GmbH is a medium-sized IT and data specialist company with a focus on augmented logistics. As the provider of Europe’s first Smart Logistics System, TIMOCOM uses smart, safe and simple solutions to help customers meet their logistics goals. More than 43,000 verified companies are connected via the system, where up to 750,000 international freight and vehicle offers are entered every day.