XSI® Far East
The index for Far East exports, the world's largest trade, grew to 164.1 points, marking a 1.4% rise after thirteen consecutive monthly declines.
The index for Far East exports, the world’s biggest trade, registered growth in September, rising to 164.1 points. After falling month-on-month for thirteen months in a row, this trade, which also contributes by far the most when calculating the Global XSI®, saw an increase of 1.4% in the average rate for all valid long-term contracts.
The situation was reversed for imports into the region, with the index dropping 1.5%. This brought it down to 1160 points, with almost all the gains of the past two and a half years wiped out. We now have to travel back in time to January 2021 to reach a point when the average rate for all valid long-term contracts into the Far East was lower than this. It’s interesting to note that in February 2021 carriers were able to secure a 35.7 point increase in the index thanks to spiralling spot rates.
