XSI® Europe
Imports & ExportsThe XSI for European Imports fell to 185.0 in July, down by 12.0% from the previous month. Over the course of this year, this sub-index has now fallen by 52.7%.
Import rates now down by more than half since turn of the year
The XSI for European Imports fell to 185.0 in July, down by 12.0% from the previous month. Over the course of this year, this sub-index has now fallen by 52.7%.
The XSI for European exports dropped 18.1% from June, bringing it to 193.6 in July. This is one of the few sub-indices that hasn’t at least halved over the last year, though it has come close, falling by 47.5% from July 2022.
Meanwhile, containerized imports into Europe have picked up since the start of the year. After five months imports are only 0.1% lower than they were in the same period of 2022, having recovered from the 9.0% drop registered in the first two months of the year.
Exports from Europe have performed much worse than imports, falling by 10.0% in the first five months of this year.
Some areas and ports are harder hit than others, with figures from the Port of Rotterdam showing an 8.1% drop in total throughput from last year. Yard utilization across North Europe is reported to be 60%, a low level given the time of year, when peak season volumes should be starting to fill up the ports.
