Consumer spending is on the rise, triggering an influx in maritime transport, according to the findings of a new report from the United Nations Conference on Trade and Development. Online orders have been the driving force behind consumer spending, leading to an increase in container shipping costs and the price of consumer goods. 

Increases have also been seen among raw materials such as grain due to the war in Ukraine and prolonged effects from the pandemic. This, paired with supply chain issues, has driven consumer food prices up 1.2 percent, particularly in middle and low income countries. 

Despite a decrease in freight and charter transport, levels remain above pre-COVID-19 levels. 

Containerized cargo has seen a sharp increase, growing by 3.2 percent, reaching 11 billion tons of goods. This is a 7 percent increase following a 3.8 percent decline in 2020. Increases have been seen in Africa at a rate of 5.6 percent, 3 percent in Latin America and the Caribbean and 3 percent in Asia. 

Approximately 42 percent of goods loaded and 64 percent of goods unloaded occur in Asia. Experts are concerned that a continued zero-COVID policy in China will disrupt manufacturing further. This paired with the war in Ukraine could negatively impact global food supplies, along with energy and fertilizers markets. 

The UNCTAD projects a decrease in growth to 1.4 percent, however, between 2023 and 2027 growth is expected to reach 2.1 percent annually, slightly down than the 3.3 percent average over the past 30 years.