Big Data on Vessel Traffic: Nowcasting Trade Flows in Real Time
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Summary:
Vessel traffic data based on the Automatic Identification System (AIS) is a big data source for nowcasting trade activity in real time. Using Malta as a benchmark, we develop indicators of trade and maritime activity based on AIS-based port calls. We test the quality of these indicators by comparing them with official statistics on trade and maritime statistics. If the challenges associated with port call data are overcome through appropriate filtering techniques, we show that these emerging “big data” on vessel traffic could allow statistical agencies to complement existing data sources on trade and introduce new statistics that are more timely (real time), offering an innovative way to measure trade activity. That, in turn, could facilitate faster detection of turning points in economic activity. The approach could be extended to create a real-time worldwide indicator of global trade activity.
Series:
Working Paper No. 2019/275
Subject:
Big data Exports Imports International trade Technology Trade balance Trade in goods
English
Publication Date:
December 13, 2019
ISBN/ISSN:
9781513521121/1018-5941
Stock No:
WPIEA2019275
Pages:
34
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