In addition to the financial war between China and the United States to fight each other, the impact of another front of the trade war is emerging one after another. With some foreign-funded enterprises to ensure the safety of some production lines moved away from China, Southeast Asian countries have become beneficiaries.
According to the Japan Maritime Center statistics from Japan, South Korea, China and the ASEAN region, such as 18 Asian countries and regions to the United States transport figures show that the ASEAN countries, including Singapore and seven other countries, the volume of sea freight increased significantly. According to the 20-foot container calculation, last year’s traffic from ASEAN reached 4.01 million, an annual increase of 16.1%, the first time exceeded the 4 million mark, resulting in the proportion of traffic from ASEAN countries also increased to 21.9%, an annual increase of 2.3 percentage points, the past 20 years for the first time in the breakthrough of 20%.
The report pointed out that, as the United States and China opened a trade war, since 2019, some companies have been evacuated from China, coupled with rising labor costs in China, the formation of production bases outside China “China +1” trend, that is, the formation of two supply chains, especially in Vietnam last year to control the epidemic is ideal for the biggest beneficiaries. Vietnam’s container shipping volume to the United States last year increased by 24.8% to 1.99 million, the proportion increased to 10.8%, the first time to reach double digits; Thailand’s proportion was 4.1%, an increase of 0.3 percentage points. Until this year, ASEAN accounted for signs of acceleration, the latest data in January showed that in the containers sent to the United States, the proportion of ASEAN soared to 23.3%.
As for mainland China, the volume of containers shipped to the United States last year reached 10.81 million, an increase of 2.4% year-on-year, but still lower than the peak of about 6.4% in 2018 before the trade friction between China and the United States. China’s share of overall seaborne containers shipped to the U.S. fell 0.9 percentage points last year to 58.9%, the second consecutive year below 60%. As the world supply chain continues to change and Americans “stay at home,” ASEAN is expected to continue to benefit as shipments of furniture and home electronics, which are major local producers, grew by 13.1% and 29.4%, respectively, last year.
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