The price increases in construction materials experienced in the country are due precisely to the significant rise in maritime freight rates. Organizations linked to the sector have expressed their concern about this.
AFP Geneva, Switzerland
The United Nations warned on Thursday that increased shipping tariffs would lead to higher prices for consumers next year unless supply chain problems caused by the pandemic are resolved.
The UN trade and development agency (UNCTAD) indicated that import prices could rise by 11% internationally and consumer prices by 1.5% until 2023.
"Consumer prices will rise significantly in the coming year until disruptions to the goods supply chain are unlocked and bottlenecks at ports and terminals are resolved," UNCTAD said in a 2021 shipping report.
Global supply chains were subjected to unprecedented demand from the second half of 2020 onwards as consumers preferred to spend on goods rather than services during coronavirus lockdowns.
This caused saturation of the cargo capacity of ships, a lack of containers and manpower, and congestion in the ports.
At the same time, this saturation led to record freight prices "on virtually all container trade routes," the report states.
"This surge in freight rates will have a profound impact on trade and undermine socioeconomic recovery, especially in developing countries," said the agency's Secretary General, Rebecca Grynspan.
In fact, consumer prices should rise by 7.5% in developing island states and 2.2% in the least developed countries, above the 1.5% expected globally.
UNCTAD notes that the pandemic magnified the industry's previous problems, such as labor shortages or the infrastructure gap, and also exposed its vulnerabilities.
Even so, the impact of the pandemic on maritime trade was less than initially expected: in 2020 it contracted by 3.8%, but it should grow by 4.3% in 2021.
The agency forecasts average annual growth of 2.4% between 2022 and 2026, but warns of "increased risk and uncertainties.".
It also urges accelerating vaccination among the 1.9 million maritime crew members, with only 41% fully immunized.
The pandemic, however, may bring about a lasting transformation in the sector, thanks to the development of digital commerce which "can generate new business opportunities.".
