The Bank of Italy has released its 2024 survey report on Italy’s international merchandise transport, which feeds into the “services” item of the balance of payments and indicates an average rise in freight costs alongside a deterioration in Italy’s merchandise transport balance driven mainly by higher sea freight rates. Based on interviews with 214 transport operators, the survey collects freight rate data by transport mode and type of load and estimates carriers’ market shares by nationality of residence. It reports particularly strong cost increases in container shipping, linked to route detours prompted by Huthi rebel attacks in the Red Sea, while domestic carriers’ market shares remained broadly stable.
Bank of Italy 2025-06-06
Bank of Italy publishes 2024 international merchandise transport survey pointing to higher sea freight rates and a worsening transport balance
The Bank of Italy's 2024 survey on international merchandise transport reveals an average increase in freight costs and a decline in Italy's transport balance, primarily due to higher sea freight rates. The report highlights significant cost rises in container shipping, attributed to route detours caused by Huthi rebel attacks in the Red Sea, while domestic carriers' market shares remained stable.