Industry revenue of »freight transport by road« in Belgium 2011-2023

Industry revenues of the Belgian road freight transport industry have grown from 13.4 billion U.S. dollars in 2011 to only 14 billion U.S. dollars in 2019. Some of the key reasons for the tepid growth include a decline in the amount of volume transported by road, reduction in the number of trucks used for transportation and shifting preference of consumers to faster alternatives such as rail, air and inland waterways. However, the situation augers well for the industry in the long term, as increasing number of hybrid and e-trucks are envisioned to enter into service. They will not only be cheaper but emit significantly lower emissions than rail and flights, which will be an important driver for consideration in the long run.

Covid-19 disrupts services

Road services not only in Belgium, but across all of Europe have been disrupted, as nations have sealed their borders for an indefinite period of time due to the outbreak of the corona virus. Experts predict that the European road freight market could contract by as much as 17 percent in 2020 if full-fledged operations are not resumed.

Industry revenue of »freight transport by road« in Belgium from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Belgium. The industry “freight transport by road“ has the code “H4941“.

Details on the methodology can be found here.

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Statistics on "Transport industry in Belgium"

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