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Rail Freight in Italy industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2009-13, and forecast to 2018). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Italy rail freight market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Time and space are two physics terms that have never seemed quite enough to describe businesses – especially the direct selling and e-commerce companies whose key tasks are to store and deliver necessary products around the globe.

Sales According to the Taiwan Transportation Vehicle Manufacturers Association (TTVMA), October 2013 auto sales declined 3.8% year-on-year (y-o-y), to 22,774 units. While commercial vehicle (CV) sales continued their dismal performance since the start of 2013 by declining 13.6% y-o-y in October (see 'CV Segment Woes Result In Downgrades', September 4), the passenger car segment has also clocked up poor sales during the past few months causing 10M13 sales in the segment to contract by 3.0%, to 178,993 units.

In 2013, we forecast passenger car sales to increase 10.0% on the back of modest improvements in private consumption, price cuts from car sellers, and pent-up demand. This bullish outlook for the UK stands in stark contrast to our view on the European passenger car market. Indeed, passenger car sales in much of Europe, particularly the large markets in Western Europe, have declined sharply in 2013, and we expect to see sustained declines in many markets over the year.

We are revising down our 2014 real GDP growth forecast for Chile to 4.2%, from 4.6% previously, as the country's H113 economic performance has reinforced our conviction that lower commodities prices and weakening external demand for industrial metals will weigh on Chile's economy over a multi-year timeframe. Indeed, real GDP growth in Chile came in at 4.3% year-on-year (y-o-y) during the first half of 2013, directly in line with our forecast for annual headline growth of the same figure, which would mark a drop from average expansion of 5.7% from 2010-2012, during the Chinese investment-led bull-run in global commodities.

We forecast Colombian real GDP to expand by 4.1% in 2013 and 4.3% in 2014, up from 4.0% in 2012. However, ongoing labour disruptions to exports pose downside risks to our medium-term growth outlook, which also feeds into our forecasts for the country's freight industry. That said, we maintain a favourable long-term growth outlook, as investment into the infrastructure and oil and gas sectors, combined with a strengthening consumer, will drive robust real GDP growth in the coming years.

Lithuania has seen robust economic growth, due to improvements in household consumption and strong exports, and has prompted a revised forecast of 3.4% year-on-year (y-o-y) real GDP growth, up from our previous forecast of 2.6%. This growth is reflected the country's freight sector, particularly the air freight sector, which is forecast to see growth of 9.68% y-o-y in 2014. Rail freight is also showing signs of steady, though modest, growth over our forecast period.

Turkish vehicle production increased 12% year-on-year (y-o-y) in November, to 113,678 units, as export volumes and the domestic market picked-up during the month following a brief period of weakness, in line with BMI's expectations. Over the first 11 months of the year, vehicle output increased 6% y-o-y, to 1,042,400 units. We expect to see a continued uptick in manufacturing in the country over the coming months on the back of increases in domestic and export demand. This has informed our 2013 forecast of a 6.4% increase in vehicle production.

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Last quarter we revised up our forecasts for new vehicle sales in Bahrain in 2013 from a 9% year-on-year (y-o-y) rise expected earlier to a more robust 14.5% y-o-y increase. We have again revised up our forecast, which now stands at 14.8%.

BMI maintains its cautiously optimistic view on the US shipping sector. After estimated contractions in TEU throughput at both the port of Los Angeles and the Port of New York/New Jersey in 2013, we forecast a return to growth in 2014 at both facilities.

Strong Fundamentals Lift 2014 GDP Growth To 6.1%

A Return To Positive Growth Expected For 2014

Following a year in which BMI believes saw increasing freight volumes, 2014 will signal further growth across the whole freight transport sector in line with Romania's economic outlook, although the return to pre-downturn levels is still not on the cards.

Russia's two bellwethers, the port of St Petersburg, Russia's main box facility, and the port of Novorossiysk, one of the country's largest ports in terms of total throughout, are set to hold their respective positions in Russia's maritime sector in 2014. While we expect Russia's consumer story to remain attractive over the next few years, helping container throughput growth at the country's ports, economic growth will be lacklustre as a result of too much government intervention in key sectors - energy, infrastructure and banking - and volatile global oil prices.

Recovery Will Be Slow And Protracted

BMI Industry View

Saudi ports are expected to have healthy growth in 2014, following a year of contractions for many of the facilities in 2013, though we note that these contractions followed a year of extraordinary growth in 2012 and so are not as negative as they first appear. Growth in Saudi ports will be supported by local shipping companies such as Bahri and Vela Shipping. The considerable investment into new facilities is also continuing apace.

Cargo shipment to Bangladesh is a significant business in many airports in the United Kingdom. Bangladeshis who reside abroad need cheap cargo to Bangladesh for sending gifts and other items to their loved ones in the youngest country in the subcontinent. Send Cargo has been shipping cargo from UK to Bangladesh ever since it was established in 2007. In fact the company opened with the soul motive of transforming the cargo service for Bangladesh. It is the brainchild of a Bangladeshi visionary who had worked under several entrepreneurs on foreign soil. His realisation of the scope of growth in Bangladesh courier service resulted into the opening of Send Cargo courier service Bangladesh.

The medium-term outlook for Iranian auto production has improved significantly since our last quarterly update, reflecting the temporary deal reached between US and major powers over the future of its nuclear programme in November 2013. Should a permanent deal be struck in 2014, then there is scope for sanctions on Iran's key oil sector to be lifted, which would be a game changer for the domestic economy and, by extension, demand for new cars from Iranian citizens.

GDP To Grow For The First Time In Six Years

Vehicle sales in the Philippines for October 2013, as reported by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA), came in at 16,800 units, an increase of 11.4% y-o-y. Sales were at an all-time monthly high, playing out our bullish view on the market.

The outlook for the Saudi Arabian freight transport sector is upbeat. Although some ports saw an estimated contraction in either gross tonnage or container handling, or both, in 2013, 2014 will see these facilities return to growth.

GDP To Grow For The First Time In Six Years

BMI Forecasts 3.0% GDP Growth For Taiwan in 2014