Global shipping is a vital aspect of international trade, enabling businesses to transport goods across borders and reach customers around the world. In this blog, we will explore the top products and trends in international freight forwarding, along with some key facts and figures.
Top Products in Global Shipping
- Electronics: Electronic goods such as smartphones, laptops, and tablets are among the most commonly shipped products internationally. In 2020, the global electronics market was valued at $1.3 trillion, with Asia-Pacific being the largest market for electronic goods.
- Apparel and Textiles: Clothing and textiles are also popular products for international shipping, with textiles and apparel accounting for 5.7% of total global exports in 2019. The top exporters of textiles and apparel are China, the United States, and Germany.
- Food and Beverage: The global food and beverage industry is valued at $8.7 trillion, with an estimated 30% of food produced globally being traded internationally. The top food and beverage exporters are the United States, Europe, and Brazil.
- Pharmaceuticals: The global pharmaceutical market is valued at $1.3 trillion and is expected to reach $1.5 trillion by 2023. The top pharmaceutical exporters are the United States, Germany, and Switzerland.
Key Facts and Figures
- The global shipping industry is valued at $14 trillion, with an estimated 90% of world trade being transported by sea.
- In 2020, the average container ship had a capacity of 8,000 TEUs (twenty-foot equivalent units), up from 6,000 TEUs in 2010.
- The top ports in the world by volume of cargo handled are Shanghai, Singapore, and Shenzhen.
- The total value of global exports in 2020 was $18.89 trillion, with the top exporters being China, the United States, and Germany.
Conclusion
Global shipping is a complex and dynamic industry that plays a vital role in international trade. As a freight forwarder, understanding the top products and trends in global shipping is essential to providing the best service to your clients and staying ahead of the competition. From electronics to pharmaceuticals, the products being shipped internationally are diverse and constantly evolving. By embracing sustainability, digitalization, and e-commerce, the global shipping industry can continue to grow and thrive in the years to come.
References:
- “Top 10 Products Exported by the World.” World’s Top Exports. Accessed July 12, 2023. https://www.worldstopexports.com/top-10-products-exported-by-the-world/. ↗
- “Top 10 Countries by Textile and Clothing Exports.” Fibre2Fashion. Accessed July 12, 2023. https://www.fibre2fashion.com/news/apparel-news/top-10-countries-by-textile-and-clothing-exports-273847-newsdetails.htm. ↗
- “Global Pharmaceutical Market Size 2021-2028.” Grand View Research. Accessed July 12, 2023. https://www.grandviewresearch.com/industry-analysis/pharmaceutical-market. ↗