Positive outlook on China's air freight volume
China's air freight volume will keep increasing, bolstered by exports of consumer goods, machinery parts and chemicals, according to a report issued by the world's leading logistic giant.
The first DHL Global Trade Barometer, an early indicator of global trade developments, suggests that the growth on exports will bring about sustained increases in air freight volumes out of China, though Chinese ocean trade is losing momentum, largely due to the country’s reduced appetite for industrial raw materials.
"With China’s economy shifting towards a more consumption- and service-driven model, it’s no surprise that the growth outlook for ocean freight is significantly lower than before,” said Kelvin Leung, CEO, DHL Global Forwarding Asia Pacific.
According to the barometer, the decline in ocean freight has been offset by resilient exports in China’s main industries: household goods, automotive, and machinery parts.
The country’s growth indices for household goods and chemical products also remain strong, though a decline in consumer fashion products is expected to continue weighing down Chinese air exports in the next three months.
"Despite the slowdown in infrastructure spending, China’s consumer and industrial exports remain strong,” Leung added.
Developed jointly by DHL and Accenture, the barometer provides a quarterly outlook on future trade, taking into consideration the import and export data of seven large economies: China, South Korea, Germany, India, Japan, the United Kingdom, and the United States. These countries account for 75 percent of world trade.