Forecast: Employment in Freight Transport by Road Sector in Belgium

The employment in the Freight Transport by Road sector in Belgium stood at 44.43 thousand FTEs in 2023. Over the past decade, the sector has seen fluctuations with notable growth periods such as 2018-2019 where the year-on-year growth reached over 3%. However, the sector faced a setback in 2020 due to a 6.75% decline. The last two years witnessed slight declines in employment, with a reduction of 0.3% annually. The Compound Annual Growth Rate (CAGR) for the most recent five years leading up to 2023 stood at -0.67%, indicating an overall downward trend.

Looking forward, the forecast shows a slight continued decline, with employment figures expected to drop to 43.78 thousand by 2028, corresponding to a forecasted 5-year CAGR of -0.23%. Factors contributing to these trends include technological advancements, regulatory changes, and market consolidation. Key trends to watch include the adoption of automation and digital logistics, shifts in regulatory frameworks affecting the transport sector, and potential economic changes influencing demand for road freight services.