The Container Throughput Index of the RWI – Leibniz Institute for Economic Research and the Institute of Shipping Economics and Logistics (ISL) has risen to 138.5 in May according to the current flash estimate. This indicates an unexpectedly robust international economy.
The most important results:
- The Container Throughput Index of the RWI – Leibniz Institute for Economic Research and the Institute of Shipping Economics and Logistics (ISL) has risen to 138.5 in May according to the current flash estimate.
- At the same time, the April value was revised unusually strongly from 134.7 to 137.4. The main reason for this is an upward correction of the data for some Chinese ports.
- After this revision, the index has been slightly upwards in recent months. Consequences of the trade conflicts are isolated but quite recognizable. For example, the cargo handling in Iran’s port of Bandar Abbas has fallen dramatically as a result of US sanctions. According to data from ISL’s Monthly Container Port Monitor, the port handled up to 260,000 TEU per month before the introduction of the trade sanctions. The most recent figures show just 25,000 TEU.
- The flash estimate for May is based on data from 48 ports, which account for about 77% of the index shown in the index.
- The RWI / ISL Container Throughput Index for June 2019 will be published on July 23, 2019.
RWI Chief Economist Roland Döhrn comments on the development of the index: "The May value was surprisingly high. Perhaps the international economy is more robust than previously expected, with first-quarter GDP rates also speaking. "
About the RWI/ISL Container Throughput Index:
The Index is based on data continuously collected from 83 world container ports by ISL as part of its market monitoring. Together, they account for around 60 per cent of worldwide container handling. Because large parts of international merchandise trade are transported by ship, the development of port handling is a good indicator for world trade. As many ports release information about their activities only two weeks after the end of the respective month, the RWI/ISL Container Throughput Index is a reliable early indicator for the development of international merchandise trade and hence for the activity of the global economy.