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Economic importance of the Flemish maritime ports: Report 2002

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4.2.4 InvestmentTABLE 20 SUMMARY OF CHANGES IN INVESTMENT AT GHENT FROM 1995 TO <strong>2002</strong>(millions <strong>of</strong> euros)Sectors(direct effects)1995 1996 1997 1998 1999 2000 2001 <strong>2002</strong> Relativeshare in<strong>2002</strong>(in p.c.)Changefrom 1995to <strong>2002</strong>(in p.c.)Annualaveragechange(in p.c.)Maritime clusterShipping agents andforwarders ...................... 5.3 2.7 12.3 6.2 6.3 5.3 6.4 6.8 0.8 28.1 3.6Cargo handlers .............. 31.9 32.1 27.6 36.3 50.5 34.7 31.8 37.0 4.6 15.9 2.1Shipping companies ...... 2.9 1.1 3.6 6.8 7.7 4.7 6.5 8.2 1.0 184.0 16.1O<strong>the</strong>r services................ 0.2 0.2 0.2 0.1 0.1 0.2 0.0 0.2 0.0 - 9.6 - 1.4Fishing............................ 0.4 0.1 0.1 0.1 0.1 0.1 0.2 0.6 0.1 57.3 6.7Shipbuilding andrepair.............................. 0.2 0.3 0.5 0.5 0.4 0.5 0.6 0.7 0.1 286.5 21.3O<strong>the</strong>r industries.............. 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.5 0.1 - -Public sector .................. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 - -Total <strong>maritime</strong> .............. 40.8 36.6 44.3 50.1 65.1 45.4 46.2 54.0 6.7 32.2 4.1Non-<strong>maritime</strong> clusterTotal wholesale trade..... 39.9 38.5 40.8 35.9 39.2 49.3 64.1 63.5 7.9 59.4 6.9Energy............................ 20.8 45.9 14.8 13.7 15.6 15.3 18.7 5.0 0.6 - 76.2 - 18.5Oil industry ..................... 0.0 0.0 0.0 0.0 0.0 1.6 0.3 0.1 0.0 - -Chemicals ...................... 32.5 17.8 26.3 31.9 34.7 32.9 46.3 38.3 4.7 17.7 2.4Car manufacturing ......... 52.0 150.6 62.2 116.3 220.2 90.0 77.3 132.6 16.4 155.2 14.3Electronics ..................... 2.9 3.5 5.1 12.5 8.4 12.3 13.8 9.6 1.2 227.0 18.4Metal-working industry... 40.9 66.5 115.8 83.2 170.8 244.2 239.5 126.2 15.6 208.7 17.5Food industry ................. 13.8 11.1 11.9 16.7 27.6 14.3 18.0 18.6 2.3 34.6 4.3O<strong>the</strong>r industries.............. 40.7 29.9 20.3 19.7 32.8 26.8 53.0 302.5 37.4 643.2 33.2Total industry ................. 203.6 325.2 256.3 294.0 510.1 437.4 467.0 632.9 78.3 210.8 17.6O<strong>the</strong>r services................ 6.4 14.1 8.4 9.0 5.6 26.4 24.0 18.5 2.3 188.8 16.4O<strong>the</strong>r industries.............. 7.3 4.2 2.5 2.8 7.8 8.8 4.0 0.9 0.1 - 88.1 - 26.2Public sector .................. 20.4 18.6 22.4 19.0 8.9 14.1 10.5 12.5 1.5 - 38.5 - 6.7Total logistics services... 34.1 36.9 33.4 30.7 22.3 49.3 38.4 31.9 3.9 - 6.4 - 0.9Road transport ............... 10.3 4.9 4.7 9.4 17.0 7.3 8.0 7.7 1.0 - 25.0 - 4.0O<strong>the</strong>r services................ 5.7 7.7 10.7 14.3 12.6 15.9 13.0 18.1 2.2 216.0 17.9Total transport................ 16.0 12.7 15.3 23.7 29.7 23.2 21.0 25.8 3.2 61.0 7.0Total non-<strong>maritime</strong> ...... 293.6 413.3 345.7 384.3 601.3 559.2 590.5 754.2 93.3 156.8 14.4Direct effects ................ 334.5 449.9 390.1 434.4 666.3 604.6 636.6 808.2 100.0 141.6 13.4Allocation (p.m.)............. 3.1 2.4 4.8 3.9 7.3 4.3 6.8 5.8 - 88.9 9.5Source: NBB.General changesIncluding allocation, investment in <strong>the</strong> port <strong>of</strong> Ghent rose on average by 13.4 p.c. per annum (table 20). Thisincrease, <strong>the</strong> most striking for <strong>the</strong> four <strong>ports</strong> under review, was seen especially in 1996, 1999 and <strong>2002</strong>, in whichinvestment increased by 34.5, 53.4 and 26.9 p.c. respectively. Falls were recorded only in 1997 and 2000 (- 13.3and - 9.3 p.c. respectively). <strong>2002</strong>, <strong>the</strong> year in which <strong>the</strong> intermodal platform was put into operation, was veryfavourable in terms <strong>of</strong> investment, which reached a total amount <strong>of</strong> 802.4 million euro for <strong>the</strong> port area and808.2 million euro, including allocation.Changes by clusterThe most noteworthy changes in terms <strong>of</strong> investments occurred in industry (table 20). This segment aloneaccounted for practically three quarters <strong>of</strong> <strong>the</strong> average total amount (and 78.3 p.c. in <strong>2002</strong>), well ahead <strong>of</strong> <strong>the</strong><strong>maritime</strong> cluster and <strong>the</strong> o<strong>the</strong>r non-<strong>maritime</strong> segments. 1999 was <strong>the</strong> year <strong>of</strong> <strong>the</strong> largest rise in investmentsassociated with Ghent port activity and was also <strong>the</strong> year in which industrial investments saw <strong>the</strong>ir sharpest rise(+ 73.5 p.c.). The following year was marked by a decline in <strong>maritime</strong>, industrial and transport investment,although logistics services recorded <strong>the</strong>ir sharpest rise (+ 121.4 p.c.). In <strong>2002</strong>, <strong>the</strong> second largest increase in totalNBB WORKING PAPER No. 56 - JUNE 2004 39

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