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Calm waters in the Med.
Since the Chinese New Year affected first quarter, the trade averaged 7.8% growth in the period between April and August, accordion to numbers from Container Trade Statistics. It pushed the year-to-date growth of the first eight months to 5.7%.
The demand for Asian products in the West Mediterranean was up by 5.2% in the first eight months of 2017. Spain remains the leadership of the West Mediterranean and the westbound leg overall, so far of the sick economy it had three years ago. Spanish unemployment is getting lower, approximately 3.5 million from the 5 million of the past.
The niche markets of the Black Sea and Adriatic continue to comfortably outperform the rest of the regions, part of this is because of the Russian and Ukrainian recoveries with imports into Romania and Bulgaria. Adriatic ports are attracting more traffic from Central Europe, to countries like Austria, Czech Republic, Slovakia and Hungary, generating year after year a strong import growth.
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