Maritime and other transport

International transport costs per dollar value of merchandise trade increased over three years, reaching 8.1 per cent in 2021, after a decline from 10.4 per cent to 6.2 per cent between 2016 and 2018. These novel estimates are derived from the Cost Insurance and Freight (CIF) and Free On Board (FOB) values of imported goods recorded in customs declarations, During the six years, developing economies paid up to one third more transport costs per dollar for their imports and exports than developed economies, except in 2019 when their ad-valorem costs were about equally high for exports but 50 per cent more for imports.

In 2021, international transport costs for Least Developed Countries’ (LDCs) imports amounted to 14.8% relative to the goods’ value, more than twice the rate of imports to developed economies. In island LDCs, including Haiti, the rate even came to 19.3%. Lower rates, albeit significantly above average, were recorded for imports to landlocked developing countries (LLDCs) (11.7%) and Small Island Developing States (SIDS) excluding Singapore (11.0%), with considerable variation among SIDS across regions. LDCs, LLDCs and SIDS pay on average less transport costs per dollar for exports than imports.