Recently published research from Business Monitor International, "Hong Kong Freight Transport Report Q1 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 02/18/2013 -- Hong Kong's freight transport sector's outlook is looking brighter in 2013, with the country set to benefit from recovery in the major demand markets of the US and Europe, which the country caters for in its role as a maritime and aviation hub.
US demand is set to continue on its recovery course, while eurozone countries are forecast to emerge from their double dip recession in 2013. This will have a positive effect on throughput at Hong Kong's port, which caters as a container shipping hub for Asia, and also the country's air freight volumes, with Hong Kong boasting the busiest cargo airport globally. We forecast container throughput to increase by 1.9% in 2013 up from an estimated y-o-y decline of 4% in 2012. Hong Kong's Air freight volumes are forecast to increase by 2.3% in 2013 after a projected growth of just 0.6% in 2012.
View Full Report Details and Table of Contents
Domestic freight volumes are estimated to have been negatively hit in 2012, with the country's road freight forecast to decline by 4% on the back of a slowdown in macroeconomic growth, with BMI estimating Hong Kong's real GDP in 2012 to slow to 1.8% from 5% in 2011. In 2013 the country's economic growth is forecast to expand y-o-y by 2.5%, which will boost demand for domestic freight. We therefore project Hong Kong's road freight to grow by 2.9% in 2013.
- 2013 Air freight tonnage is expected to increase by 2.3%.
- 2013 Port of Hong Kong throughput is forecast to grow by 1.2%.
- 2013 Road freight is forecast to grow by 2.9%.
- 2013 Inland waterway freight is forecast to grow by 2.7%.
- 2013 Total real trade growth is forecast to grow 3.85%.
Key Industry Trends
Bellwethers Looking More Positive
Hong Kong's air freight bellwethers are starting to show a more positive outlook. Hong Kong airport is a major transshipment hub in the Asian air freight sector and as such, is a gauge of much wider demand. It recorded a 1% increase in cargo volumes in October 2012, as the facility handled 346,000 tonnes. While this growth marked a month on month (m-o-m) slowing from September, when air freight volumes spiked y-o-y with a growth of 7%, we highlight that September is traditionally a stronger demand month and this year volumes were further bolstered by the launch of the iPhone 5, which was dependent upon air freight for the logistics of the launch.
Foreign Operators Keep Expanding
Hong Kong's role in the global logistics supply chain continues to expand. The country is a major transshipment hub, both for maritime and air freight and so attracts great interest from logistics operators. It also offers a gateway for foreign logistics operators into China.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Transportation research reports at Fast Market Research
You may also be interested in these related reports:
- Vietnam Freight Transport Report Q1 2013
- Hungary Freight Transport Report Q1 2013
- Poland Freight Transport Report Q1 2013
- Belgium Freight Transport Report Q1 2013
- Czech Republic Freight Transport Report Q1 2013
- India Freight Transport Report Q1 2013
- Australia Freight Transport Report Q1 2013
- Iran Freight Transport Report Q1 2013
- China Freight Transport Report Q1 2013
- Malaysia Freight Transport Report Q1 2013