Eurotunnel freight shuttle volumes in May were down 11%, due to Brexit-related ‘destocking’, following stock building in first three months of the year in preparation for the original UK departure date from EU.
Eurotunnel today reported a sharp decline in UK-EU truck traffic in May, blaming it on Brexit-related “destocking” following the stock building in the first three months of the year in preparation for the original UK departure date from EU, although total road freight traffic for the first five months declined by 2%.
The Channel Tunnel operator said continuing political uncertainty in the UK and the delay to Brexit “seems to be affecting economic activity, as shown by macroeconomic indicators and a contraction in industrial production”.
Truck traffic carried in May by Eurotunnel’s Le Shuttle Freight operations were down 11% compared to May 2018, “following destocking by British businesses in April and May, following stock building in the first three months of the year in preparation for the original departure date from the EU on 29March”, the company noted.
“However, after a sharp decline in car production in Britain in April, the recovery of traffic flows related to this industry is progressively improving. Since the beginning of 2019, nearly 690,000 trucks have crossed the Channel on Le Shuttle Freight services, a 2% decrease on last year.”