Project Insight - Global Port Construction Projects | Construction Market Research Reports
According to the World Trade Organization (WTO), global trade will continue to face slower growth than expected in 2019, with merchandise trade volume growth falling to 2.6%, from 3.0% in 2018, after a high of 4.6% in 2017. New tariffs, retaliatory measures affecting goods, weaker global economic growth and volatility in financial markets have all affected global trading. In terms of regional growth, GDP projections have been downgraded for North America, Europe and Asia, due to the reducing effect of fiscal policy in the US, the phasing out of monetary stimulus in the euro area and the strategy of moving the Chinese economy away from manufacturing and investment to services and consumption. The deceleration of trade in 2018 was largely driven by Europe and Asia, with their large proportion of global imports at 37% and 35% respectively. Europe saw its imports decline throughout 2018, while Asia’s trade growth moderated; this will have an impact on investment intentions for port const...