Hungary Freight Transport Report Q1 2016
BMI View: The year 2016 will see mixed results for Hungary's freight sector, with rail freight growing by astrong 4.3% and road and air freight seeing more moderate growth of 2.15% and 2.33% respectively. Thegood performance of rail freight will come on the back of the eurozone recovery, which will boost demandfor Hungary's vehicles exports. Road and air freight will profit from improved domestic consumption whichwill drive imports of consumer goods, transported by these means. Over the medium term we forecast thesetrends to continue which, supported by investment into rail infrastructure, will increase the importance ofrail in the freight mix.
Real GDP will grow by a moderate 2.6% over 2016, underpinned by the eurozone's strong demand forHugnarian exports and strong domestic consumption. Lower EU fund absorption and relatively weak creditconditions will cap growth over 2016 and will continue to do so over the medium term. Growth will beresilient but trend at lower levels, which will be reflected in constant but lower growth levels in Hungary'sfreight industry.
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