Boston, MA -- (SBWIRE) -- 04/14/2014 -- The Dutch economy finally appeared to break out of recession during the third quarter of 2013, just as the eurozone recovery has shown signs of faltering. With domestic demand hit by falling house prices and a lack of appetite for fixed investment, the strength of global demand will be key to safeguarding the domestic recovery given the Netherlands' substantial current account surplus. We stress, however, that a continued deterioration in eurozone demand or insufficient monetary easing from the ECB pose key risks to our forecasts for 2014 which, among other industry sectors in the Netherlands, could end up having a detrimental effect on the country's freight industry.
Although the Dutch economy did not endure the sort of precipitous economic decline that the US, UK and the peripheral eurozone has endured, it has nonetheless struggled to gain momentum and has effectively flatlined since the financial crisis. The economy has been in and out of recession since 2008 with output still 3.5% below the pre-crisis peak. The economy tentatively emerged from recession during the third quarter of 2013, at a time when the eurozone recovery is showing signs of faltering. Indeed, according to the latest data, real GDP expanded by an anaemic 0.1% quarter-on-quarter during Q3 2013, having failed to grow at all during the previous quarter. Meanwhile, the eurozone recovery has slowed, with growth sliding to 0.1% q-o-q in Q3 2013 from 0.3% the previous quarter.
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Headline Industry Data
- 2014 Port of Rotterdam tonnage throughput is forecast to grow 2.64% to 452.092mn tonnes. Container traffic to expand by 2.11% to 12.261mn twenty-foot equivalent units (TEUs).
- 2014 port of Amsterdam bulk throughput forecast to grow by 2.1% to 79.853mn tonnes. Container traffic to grow by 1.3% to 11,866,457TEUs.
- 2014 rail freight total tonnage volume growth forecast to come in at 2.66%, to reach 39.502mn tonnes.
- 2014 road freight total tonnage volume growth forecast to rise 2.60%, to reach 567.496mn tonnes.
- 2014 inland waterway freight total tonnage volume growth forecast to increase 2.29%, to reach 358.723mn tonnes.
- 2014 total trade growth forecast set to increase 4.35% in real terms.
Key Industry Trends
Husa Transportation Plans To Cease Rail Freight Activities: Husa Transportation Group, the Dutch logistics company, is to cease operations at its rail transport company Husa Transportation Railway Service and sell Garman subsidiary HTRS Sud. The move follows the company's failure to maintain good financial results to support the continued operation of its own freight trains. The company was not able to cope with the privatisation of the railway market, according to CEO Rob van Gansewinkel.
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