Recently published research from Business Monitor International, "Greece Freight Transport Report 2015", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 01/19/2015 -- Freight Demand Picking Up Pace In 2015
Looking at specific Greek transport modes, the main feature of 2015 will be faster growth compared to 2014. All modes will experience cargo volume expansion in a range of roughly 2.0% to 6.0%, ahead of the general rate of expansion experienced in the slowly recovering Greek economy. As in recent years, the best performer will be the Port of Piraeus, lifted by new investment and its role as a European gateway. Foreign trade growth will accelerate to 3.5%, giving a positive boost to freight demand after years of contraction.
The Greek economy is recovering, but the transition seems to be from deep recession to weak growth with continuing downside risks. We now expect GDP to gain 1.2% in 2015, up from an estimate of 0.2% positive growth in 2014, which itself came after six consecutive years of contraction (2008-2013). The problem is that the growth drivers are quite fragile. Household spending, the key driver, is itself based on less than solid foundations. Tight labour laws and weak demand means severe unemployment (over 25%) will persist for years. Wages will continue falling as the country devalues internally due to an inability to weaken its currency. Lending from banks is likely to remain subdued, as they continue to deleverage. Government spending is constrained by high debt levels. And net exports - another source of growth - are dependent on the mixed eurozone outlook. We think that a slight recovery in imports and weak demand from key eurozone trading partners will slow the pace of trade rebalancing. This suggests net exports' ability to drive growth will diminish somewhat over the next few years. As a result of these factors we project below-consensus GDP growth of 1.2% in both 2015 and 2016. On the medium term to 2019 GDP growth will average a modest 1.3% a year, although we believe foreign trade expansion will be more encouraging at 3.5% per annum
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Headline Industry Data
- Air freight cargo volume set to grow by...
The Greece Freight Transport Report has been researched at source, and features latest-available data covering commercial transport and logistics by road, rail, air and water; industry forecasts, company rankings covering leading national and multinational operators; and analysis of latest industry trends, opportunities, projects and regulatory changes.
Business Monitor International (BMI)'s Greece Freight Transport Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Greek freight transport and logistics industry.
- Benchmark BMI's independent freight transport industry forecasts on Greece to test other views - a key input for successful budgetary and planning in the strategic freight transport market.
- Target business opportunities and risks in the Greek freight transport sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Greece.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs, and latest activity).
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis covering freight transport and logistics, regulatory changes, major investments and projects and significant national and multinational company developments.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the freight sector and within the broader political, economic and business environment.
Industry Trends And Developments
Analysis of latest projects across the freight transport sector (road, rail, air, sea and logistics) including market overview which provides an outline of the key elements driving development.
BMI Industry Forecasts
Historic data series and forecasts to end-2018 for all key industry and macroeconomic indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
Transport Sector: Sector Value (US$bn); sector real growth (%); employment (`000); total freight carried by road, rail, inland waterways, maritime, air and pipeline (mn tonnes-km/mn tonnes)
Trade: Exports and imports (US$mn) by category of goods (manufactured goods, food, chemicals etc.); top-5 import and export trade partners (US$mn); imports/exports to each global region (US$mn)
Port Data: Throughput (`000 tonnes) and container throughput (TEU) for all major ports in the state
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