New Transportation market report from Business Monitor International: "Australia Freight Transport Report Q2 2015"
[USPRwire, Wed Feb 18 2015] Australia's current account picture is gradually improving despite deteriorating terms of trade, the result of higher export volumes and lower income outflows, the former providing welcome news for the Australia freight industry. Going forward we maintain that a current account surplus is likely as the Australian dollar depreciates, but this will increasingly be driven by lower imports, to the detriment of the domestic economy.
Australia's current account position continues to gradually improve, and we maintain our view that a current account surplus within the next few years (we are forecasting a broad balance by 2017). There have been two dynamics in play that have been contributing to the improvement in Australia's current account deficit over recent years. Firstly, the trade balance has gradually improved as commodity shipments have surged in volume terms, while import growth has been subdued owing to the weaker Australian dollar and slower investment growth. We expect these trends to continue to lead to an improvement in the trade account, even as export values struggle with the impact of lower iron ore and coal prices.
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The outperforming freight mode is set to be road freight during 2015 with year-on-year (y-o-y) growth set to come in at 2.70%, edging ahead of air freight (2.30%) and rail freight (1.15%). Some of the modes are set to register improved growth on 12 months previous (such as road freight and certain ports), while others will see their performance falter on 2014 levels (for instance, air and rail freight).
Headline Industry Data
* 2015 air freight tonnage is expected to grow by 2.30%.
* 2015 rail freight tonnage is forecast to grow by 1.15%.
* 2015 port of Melbourne tonnage throughput is forecast to increase by 1.60%.
* 2015 port of Sydney tonnage throughput is forecast to grow by 1.42%.
* 2015 road freight is forecast to increase by 2.70%.
* 2015 total real trade growth is forecast to grow by 3.34%.
Key Industry Trends
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The Australia 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 Australia Freight Transport Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Australian freight transport and logistics industry.
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