The loaded international freight vessel traffic in Belgium has shown a declining trend from 2013, where it stood at 5.67 million vessel-kilometers, to 2023, with a value of 3.76 million vessel-kilometers. This decline is underscored by a drop of 2.94% year-on-year in 2023 and an average annual decline of 2.57% over the last five years.
Key Observations:
- From 2018 to 2020, there was a steep decline in vessel traffic, with decreases of 20.21%, 6.07%, and 11.88%, respectively. - There was a notable recovery in 2021, with a year-on-year growth of 14.78%.- The trend reversed again in 2022, showing a decline of 4.79%.- The 2023 traffic showed a modest decline of 2.94% year-on-year.
Future Trends:
- Forecasts indicate a continued decline in vessel traffic, with a five-year CAGR of -2.56%, resulting in an expected traffic of 3.2 million vessel-kilometers by 2028, implying a total reduction of 12.15% in this period.- Key factors to watch for include changes in global trade dynamics, shifts in Belgian port operations, and environmental regulations impacting maritime logistics.
