The transport sector's turnover fell in the last quarter of 2019 for the first time in three years. Turnover declined 0.4 per cent from a year earlier.
This is according to figures from the Central Bureau of Statistics (CBS). Waterborne transport saw the steepest decline: 10 per cent compared to the fourth quarter of 2018. Inland shipping recorded a 19 per cent drop. This was due to high rates a year earlier, as water levels were extremely low then. In maritime shipping, sales fell by 'only' 5 per cent in the fourth quarter of 2019.
Slight increase in land transport
In land transport, turnover increased by almost 3 per cent compared to a year ago. Turnover in road haulage, the largest industry in the transport sector with a 16 per cent share, rose by 1.5 per cent. This is the smallest increase in turnover in the past seven years.
Among service providers, turnover fell 1.3 per cent from a year earlier. Freight forwarders, the second-largest industry in the transport sector, saw sales fall for the second quarter in a row.
Increase expected in first quarter
For the first quarter of 2020, more than 33 per cent of transport companies expect higher turnover, while only 1 per cent of companies expect a drop in turnover. In the road haulage sector, where turnover levelled off in the fourth quarter of 2019, 15 per cent of companies expect to achieve more turnover, mainly due to an increase in tariffs.
