New Transportation market report from Business Monitor International: "Vietnam Freight Transport Report Q3 2012"
Boston, MA -- (SBWIRE) -- 07/18/2012 -- Despite the fact that the macroeconomic picture across the globe currently looks bleak for this year - Vietnam's main export partners, the US, China and Japan, are all set to suffer slowdowns during 2012 - Vietnam's freight transport industry appears to be heading towards a period of sustained healthy growth in the mid term. The country's nickname of the 'factory of Asia' - a reputation based on the country's booming exports, which have buoyed the freight sector - still stands, although exports are set to be adversely affected by the predicted 'hard landing' in China this year, as well as a weak eurozone. Leading the way in terms of annual growth in 2012 will be the road sector, which is set for 6.97% growth. Taking second spot by mode will be air freight, with 5.72% growth predicted, while rail freight will also enjoy healthy growth of 5.29%. Inland waterways will perform well this year, with annual growth forecast to come in at 5.11%. Meanwhile, the maritime sector will be led by the port of Ho Chi Minh City, which is expected to see very healthy tonnage throughput rates not only in 2012 but in the mid term also.
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However, we caution that in order for the country to fully realise its potential, there must continue to be investment in the sector through to the long term, if Vietnam is to ward off the spectre of overcapacity. The country's existing infrastructure is sadly lacking and needs a considerable financial injection if it is to fulfil its potential.
Headline Industry Data
- 2012 rail freight tonnage is set to increase by 5.29% to 8.62mn tonnes.
- 2012 air freight tonnage is forecast to rise by 5.72% to 206,960 tonnes.
- Tonnage handled at the Port of Ho Chi Minh City in 2012 is forecast to grow 7.96% in 2012, whereas tonnage handled at the Port of Da Nang is forecast to increase 3.08%.
- 2012 road freight tonnage is forecast to grow by 6.97%.
- 2012 total trade is forecast to rise by 8.45%
Key Industry Trends
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