The performance of the Türkiye-Europe Sea Highway in the first half of 2024
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Let’s take stock of the January-June traffic statistics, based on Sinfomar data
The Türkiye-Europe Sea Highway experienced a slight decrease in the first half of 2024 compared to 2023, largely due to global geopolitical tensions disrupting trade.
Türkiye's economic situation has been significantly affected by restrictive monetary policies aimed at curbing high inflation, with interest rates soaring to 50%. This has slowed the country’s economy, although a 3% growth is still expected for 2024.
In Europe, economic struggles, especially in Germany, have further reduced trade. The introduction of the Emissions Trading System (ETS*) has also raised new challenges. Despite such issues, exports from Trieste have remained relatively stable due to Türkiye's role as a transit hub to Central Asia.
Most are optimistic for an economic recovery and improved trade volumes in the second half of 2024.
* The European Union Emissions Trading System (EU ETS) is a greenhouse gases emission trading scheme that began in 2005 and is one of the key measures to reduce such emissions in the industries with the greatest impact on climate change.
