The Critical Part Played By The Trucking Industry In The Economy

by Carl Stinson - Date: 2007-02-28 - Word Count: 462 Share This!

Most people grown when they get stuck behind a truck on the road. Give some thought to critical part the trucking industry plays in the economy and you might change your tune.

There is little question that the trucking industry is the oil that lubricates the cogs of our National economy. Over 81% of the value of the freight moved in the United States is hauled by trucks, and 60% of its value. There are very few areas of the economy that are not touched in one way or the other by trucks.

One good example is the manufacturing segment of the economy. Trucks bring the raw materials to the factory, and trucks haul away the finished goods. Although some factories are located on or near railheads, and some are near rivers, and could be supplied in that manner, the real distribution web of the country is the road network and in order to use that we need trucks.

The trucking industry is highly regulated and a major reason for this is the vital connection between it and the health and vitality of the economy. There are many other important elements that make up the total economic picture, and if any of them were to shut down completely, they would have a serious detrimental impact, but if the trucks stopped rolling, the economy would be crippled.

We are living in a time of rapid technological change. Everything seems to be in a state of flux and there are some who might question if the heyday of the trucking industry is in the past. A look at some figures answers this concern. Total trucking revenues have risen almost 60% in just the last ten years reaching a staggering 400 billion dollars per year. During this same period the number of trucks on the highway has increased 18%. There is certainly no indication that the shifting economic tides are having any impact on the need for trucks.

Although the economy might be shifting rapidly as manufacturing jobs move overseas, and the technological revolution continues to introduce change, the basic need to transport food, raw materials, fuel, and finished goods is not likely to abate. The trucking industry is vital to the health of the economy and this should remain true into the foreseeable future. This is not a totally rosy picture, however, as many of the factors that are of concern to the economy as a hold heavily impact the trucking industry. There are employment issues as many trucking concerns experience almost 100% turnover. Regulations and safety requirements, although viewed as necessary, add to both the cost of moving freight, and the ability to trucking firms to operate profitably. Rising fuel costs, of course, have a serious impact of a trucking industry that consumes awesome amounts of fuel daily.

Related Tags: goods, economy, ship, transport, truck, shipping, freight, economic, trucking

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