Question

- Why is sea transportation considered to be the lifeblood of global economy?

Answer 1

Explanation: ANSno1= It contributes hundreds of billions of dollars to the global economy annually thereby increasing gross domestic product in countries throughout the world. Moreover, as the lifeblood of global economic vitality, ocean shipping contributes significantly to international stability and security.

Answer 2

Sea transportation considered to be the lifeblood of global economy

Explanation:

• The life blood of the global economy is sea transport. It will actually be difficult to import / export affordable food and finished goods without transportation, also inter-continental trading cannot take place without sea transportation.
• Trade in Seaborne continues to develop, taking low freight costs to customers all over the world. Thanks to the growing efficacy of sea transportation and economic liberalization, the potential growth prospects in the industry continue to be high.