The container shipping industry should benefit from a rise in world economic growth predicted by the international Monetary Fund (IMF) for both 2018 and 2019, according to Peter Sand of BIMCO. In its latest World Economic Outlook (WEO), released on Tuesday, the IMF said that global trade will grow at an annual rate of around 7 percent this year, compared with just over 1 percent last year. Given that growth in advanced economies produces the highest trade-to-GDP multiplier, if the economy grows as predicted, the container shipping industry should fare well, said Sand.
The container shipping industry should benefit from a rise in world economic growth predicted by the international Monetary Fund (IMF) for both 2018 and 2019, according to Peter Sand of BIMCO. The IMF published its World Economic Outlook for January 2018, revising upwards its predictions for growth by 0.2% for both years, coming from higher growth in advanced economies, which are now expected to grow by 2.3% in 2018 and 2.2% in 2019. Given that growth in advanced economies produces the highest trade-to-GDP multiplier, if the economy grows as predicted, the container shipping industry should fare well, said Sand.