DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/9caaa4/singapore_freight) has announced the addition of the "Singapore Freight Transport Report Q3 2011" report to their offering.
The Singapore Freight Transport Report provides industry professionals and strategists, corporate analysts, freight transportation associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Singapore's freight transportation industry.
Rising wages, a low unemployment rate and a stronger currency will spur private consumption growth in Singapore for 2011, boding well for the country's freight transport sector. On the external front, BMI believes that demand will be buoyed by the improved outlook for the US and China. Overall, BMI projects Singapore's real GDP to reach 5.9% in 2011 before dipping slightly to 4.4% in 2012.
Advance estimates by the Ministry of Trade and Industry (MTI) indicate that Singapore's real GDP expanded by 12.5% year-on-year (y-o-y) in Q410, capping a stellar 2010 when economic growth reached 14.5% (the fastest rate in Asia). Notably, on a seasonally-adjusted annualised (SA) quarter-on-quarter (qo- q) basis, the economy reversed an 18.9% contraction in Q310 to register growth of 6.9% in Q410. BMI reiterates the recently upgraded 5.9% real GDP forecast for 2011, which came on the back of an improved outlook in both the US (real GDP growth increased from 2.8% to 3.1%) and China (real GDP growth raised from 7.5% to 8.3%). On the domestic front, rising wages and tight employment conditions should also lead to strong private consumption demand.
Headline Industry Data:
- Port of Singapore total tonnage growth of 8.74% in 2011 to reach 546.41mn tonnes, with average annual growth of 4.65% during our forecast period.
- Another strong year for air freight volume in 2011: we predict growth of 4% to 1.885mn tonnes, with average annual growth of 2% during our forecast period.
- The country's overall trade is forecast to grow by a healthy 6.4% in real terms in 2011.
Companies Mentioned:
- Singapore Airlines Cargo (SIA Cargo)
- Pacific International Lines (PIL)
- Pacific Carriers Limited (PCL)
- MCC Transport
For more information visit http://www.researchandmarkets.com/research/9caaa4/singapore_freight