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Economic Importance of the Belgian Ports: Flemish Maritime Ports, Liège Port Complex and the Port of Brussels – Report 2009

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Economic Importance of the Belgian Ports: Flemish Maritime Ports, Liège Port Complex and the Port of Brussels – Report 2009 A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Mathys, Claude Working Paper Economic importance of the Belgian ports: Flemish maritime ports, Liège port complex and the port of Brussels – Report 2009 NBB Working Paper, No. 215 Provided in Cooperation with: National Bank of Belgium, Brussels Suggested Citation: Mathys, Claude (2011) : Economic importance of the Belgian ports: Flemish maritime ports, Liège port complex and the port of Brussels – Report 2009, NBB Working Paper, No. 215, National Bank of Belgium, Brussels This Version is available at: http://hdl.handle.net/10419/144427 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu ECONOMIC IMPORTANCE OF THE BELGIAN PORTS : Flemish maritime ports, Liège port complex and the port of Brussels – Report 2009 Working Paper Document Claude Mathys June 2011 No 215 Editorial Director Jan Smets, Member of the Board of Directors of the National Bank of Belgium Statement of purpose: The purpose of these working papers is to promote the circulation of research results (Research Series) and analytical studies (Documents Series) made within the National Bank of Belgium or presented by external economists in seminars, conferences and conventions organised by the Bank. The aim is therefore to provide a platform for discussion. The opinions expressed are strictly those of the authors and do not necessarily reflect the views of the National Bank of Belgium. Orders For orders and information on subscriptions and reductions: National Bank of Belgium, Documentation - Publications service, boulevard de Berlaimont 14, 1000 Brussels Tel +32 2 221 20 33 - Fax +32 2 21 30 42 The Working Papers are available on the website of the Bank: http://www.nbb.be © National Bank of Belgium, Brussels All rights reserved. Reproduction for educational and non-commercial purposes is permitted provided that the source is acknowledged. ISSN: 1375-680X (print) ISSN: 1784-2476 (online) NBB WORKING PAPER No. 215 - JUNE 2011 Abstract This paper is an annual publication issued by the Microeconomic Analysis service of the National Bank of Belgium. The Flemish maritime ports (Antwerp, Ghent, Oostende, Zeebrugge), the Autonomous Port of Liège and the port of Brussels play a major role in their respective regional economies and in the Belgian economy, not only in terms of industrial activity but also as intermodal centres facilitating the commodity flow. This update paper1 provides an extensive overview of the economic importance and development of the Flemish maritime ports, the Liège port complex and the port of Brussels in the period 2004 - 2009, with an emphasis on 2009. Focusing on the three major variables of value added, employment and investment, the report also provides some information about social balance and the financial situation in these ports as a whole. These observations are linked to a more general context, along with a few cargo statistics. Annual accounts data from the Central Balance Sheet Office were used for the calculation of direct effects, the study of financial ratios and the analysis of the social balance sheet. The indirect effects of the activities concerned were estimated in terms of value added and employment, on the basis of data from the National Accounts Institute. The developments concerning economic activity in the six ports in 2008 - 2009 are summarised in this table: Changes from 2008 to 2009 Value added Employment Investment Tonnage (in percentages) (current prices) (Full-time Equivalents) (current prices) (metric tonnes) Flemish maritime ports Direct - 11.8 - 2.5 - 18.8 - 14.3 Indirect - 1.6 - 6.4 (seaborne) Total - 7.0 - 4.7 Liège port complex Direct - 7.3 - 7.9 + 28.4 - 19.9 Indirect - 3.2 - 6.7 (inland) Total - 5.3 - 7.2 Port of Brussels Direct + 0.3 - 2.2 - 28.6 - 18.0 Indirect + 2.8 - 6.8 (inland) Total + 1.5 - 4.9 Belgian ports Direct - 11.0 - 3.0 - 15.0 - 14.7 Indirect - 2.3 - 6.6 Total - 7.0 - 5.0 1 Update of Mathys C. (July 2010), Importance économique des ports belges: Ports maritimes flamands, complexe portuaire liégéois et port de Bruxelles - Rapport 2008, NBB, Working Paper No. 192 (Document series). All figures have been updated. This paper is available on the following address http://www.nbb.be/doc/ts/publications/wp/wp192Fr.pdf. NBB WORKING PAPER No. 215 - JUNE 2011 In terms of maritime cargo traffic, the downturn recorded during the last quarter of 2008 continued throughout 2009. Direct value added declined in all the ports in Flanders. Maritime branches as a whole contracted. Only the value added of the maritime branches in the port of Ostend remained stable. The non-maritime branches as a whole saw a contraction in all the Flemish ports. It was the port of Antwerp that suffered the most from the drop in the value added. Its maritime branches shrank by nearly one- third. While the non-maritime branches were slightly down. The port of Ghent recorded a bigger decrease in the non-maritime branches. Conversely, the value added in the port of Zeebrugge fell more sharply in the maritime branches. Direct employment in the ports of Flanders as a whole declined during the year 2009. Except in Ghent, direct employment in the maritime branches fell in all the Flemish ports. Similarly, only one of them, the port of Ostend, recorded a rise in employment in the non-maritime branches. Thanks to this, it has been the only Flemish port to register direct employment growth. Investment decreased in all the ports in Flanders. The decline in investment was between one-sixth and one-fifth in the ports of Ghent, Antwerp and Zeebrugge. While Ostend recorded a cut of more than one- third in its investment levels in 2009. The volume of cargo handled in the port of Liège decreased strongly in 2009. Direct value added and employment registered a significant decline. Maritime and non-maritime branches were down for both value added and employement. Thanks to the "other services" branch of activity, investment rose steadily. The volume of cargo handled at the port of Brussels declined in 2009. Value added in this port remained steady. But employment contracted slightly. After the growth seen in 2008, investment was down by more than a quarter. This report provides a comprehensive account of these issues, giving details for each economic sector, although the comments are confined to the main changes that occurred in 2009. Key words: branch survey, maritime cluster, subcontracting, indirect effects, transport intermodality, public investments. JEL classification: C67, H57, J21, L22, L91, L92, R15, R34 and R41. Corresponding author: NBB, Microeconomic Information department, e-mail: [email protected] This paper was made with the technical support and the expertise of Mr Marc Van Kerckhoven. Research results and conclusions expressed are those of the author and do not necessarily reflect the views of the National Bank of Belgium or any other institution to which the author is affiliated. All remaining errors are ours. The author would like to thank her colleagues from the Microeconomic Information department for their assistance and support. Special thanks go to Messrs Luc Dufresne, secretary general at the NBB, Philippe Quintin, head of department at the NBB, and George van Gastel, head of service at the NBB, for their support and their comments on this paper. The advice given unstintingly by the Research and Statistics departments was also greatly appreciated. NBB WORKING PAPER No. 215 - JUNE 2011 Contents Foreword ................................................................................................................................................... 1 Introduction ............................................................................................................................................... 2 1 ECONOMIC IMPORTANCE OF THE BELGIAN PORTS ............................................................... 6 1.1 Traffic in the Belgian ports ............................................................................................................... 6 1.2 Competitive position of the Belgian ports ......................................................................................... 8 1.3 Direct and indirect value added in the Belgian ports...................................................................... 10 1.4 Direct and indirect employment in the Belgian ports ...................................................................... 12 1.5 Investment in the Belgian
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