A major part of country's freight role is to act as a conduit for goods to other European states via its main port, Antwerp. The port is a maritime gateway and a transhipment hub and is Europe's second largest port in terms of throughput. Growth in demand is projected, but the port must continue its dredging initiatives to maintain it role in the global maritime sector as vessels are set to only get bigger.
On land, Belgium's freight transport sector is dominated by the road haulage sector, with the mode projected by BMI to account for 65.9% of Belgium's total freight transported. This is set to continue over the medium term, although we highlight the push by the EU to move freight from road onto other modes. Both rail and inland waterway stand to benefit from this, with BMI highlighting the massive potential of Belgium's inland waterways to play a greater role in the country's freight transport mix. Headline Industry Data - 2011 air freight tonnage is expected to grow 12.52%, with medium-term (2011-2015) growth of 54.9% projected.
Key Risks To Outlook
Any slowing in the recovery of the eurozone economies will hit Belgium's freight transport sector hard. The main destinations for the country's exports are its neighbours and eurozone majors Germany, France and the Netherlands. Any tick down in demand in Europe would also negatively impact throughput volumes at the port of Antwerp. With the facility functioning as a major transhipment hub and maritime gateway for goods into Europe the port is a bellwether for the strength of European demand.
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