American Trucking Industry Statistics For 2020 #infographic

American Trucking Industry Statistics For 2020 #infographic

The trucking industry plays a very important role in the United States and around the world as regards economic stability and development. Many carriers encountered reduced revenue sources in 2019 due to declining demand and reduced freight prices precipitated by lower freight volume. Partly to blame was the trade kerfuffle between China and the United States, and the resulting threats of increased tariffs on imported products worth billions of dollars. Industry analysts see encouraging signs of increased revenue from trucking in the second half of 2020, however.

China and the United States trade trillions of dollars per year in commodities and rely on the trucking industry to transport them to their destinations. There was a trade dispute between the U.S. and China in 2019 and it had a negative effect on the trucking companies ' sales. Nonetheless, progress is being made in trade negotiations between China and the United States which will eclipse the figures for 2019 with trucking industry analysts hopeful the amount of trade between these economic behemoths in 2020. That bodes well for truckers, although some analysts expect GDP growth in 2020 to slow down by 1.8 per cent.

There are many factors that have led to a down year for the trucking industry in 2019, and that have an effect on the 2020 freight outlook. Although tariffs and the trade kerfuffle between China and the US are major factors, there are other important factors that could play a role in the trucking industry's fortunes and outlook for 2020.

American Trucking Industry Statistics For 2020 #infographic

infographic by: www.americanfreightinc.com
American Trucking Industry Statistics For 2020 #infographic American Trucking Industry Statistics For 2020 #infographic Reviewed by Younglistan.com on March 27, 2020 Rating: 5

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