Since the beginning of the year 2020, many countries have shut down their borders, limiting transportation and travel to contain the virus and prevent its spread. This solution to restrain the spread of the virus has posed a challenge to international trade and transportation. Overall, it has affected every dimension of economic activity and individuals globally.
Statistics show that there is a 6.1% decrease in gross value added by the logistics industry due to the impact of the COVID-19 virus. The estimated impact it has on logistics markets may vary for every country. Furthermore, experts foresee the decrease in the global freight forwarding market by 7.5% at worst in 2020 compared with 2019.
The crisis has also severely impacted the North American sea and air freight forwarding market as it is expected to contract by 12.1% and 9.5%, respectively, in 2020 compared to 2019. Rail traffic, on the other hand, had the most severe impact, with 25.2% fewer carloads transported in April 2020 compared to the month before.
Logistics Companies Carry On
Despite the challenges that logistics companies have faced in their operations recently due to the COVID-19 crisis, they still work to find solutions in distributing goods efficiently and safely for both their partnered business owners and the consumers their partners serve.
Partner with a Provider of Freight Shipping in Illinois Today
PRECISE LOGISTICS FREIGHT is a provider of freight carrier services in Chicago, Illinois, that helps you in coming up with transport solutions that will ensure we can deliver your goods safely and on time.
We also offer refrigerated controlled freight.