A new comprehensive study by Pallet2Ship reveals the most vital trade routes around the globe
Delving into the intricate web of commerce that connects countries, Pallet2Ship’s new study reveals the world’s most vital trade routes. The organization gathered international trade data for each of the countries from the relevant country’s economics and statistics office.
The study provides a vivid illustration of global commerce in motion, highlighting the interconnected economies, geographical proximity, and environmental implications of global trade.
The results reveal the USA-Canada route as the busiest, with goods worth a staggering $804 billion travelling across borders every year. However, it’s not without competition. The China-USA route is also a major player that sees an impressive 96 percent of palletized goods in transit.
The study also sheds light on the dynamic trade landscape of the UK. Despite the challenges of Brexit, the UK’s trade with the European Union (EU) remains substantial. The value of goods exported to the EU from the UK reached £15.2 million as of March 2023. Whereas the value of imported goods stands at £26.1 billion. This is perhaps an indication that the UK will maintain robust trade links post-Brexit.
On a less positive note, the report shows the damaging environmental implications of global trade. Data from the International Energy Agency (IEA) was used to ascertain the emissions associated with each route.
The USA-Mexico, USA-Canada, and USA-China routes stood at the top of the table. All three routes emit a whopping 1647 kilotons of carbon each year. Such data serves as a stark reminder of the environmental costs we pay for globalization, particularly around carbon emissions.
Regardless of personal views on the study’s findings, it’s crucial to remember that these routes are not just pathways for goods. Rather, they are lifelines that connect economies and foster mutual beneficial growth.