Israel Shipping Report Q1 2016
BMI View: We expect positive growth across the three primary Israeli ports in 2016 - Ashdod, Haifa andEilat - as Israel enjoys accelerating economic growth. Crucially, the drivers of this growth will be key insupporting an expansion in port container volumes. Private consumption and exports will increasefollowing a slump in Q215, supporting box traffic in both directions through the facilities. Unemploymentwill remain low, boosting domestic consumer demand, while a relatively upbeat outlook for the eurozone incomparison to recent years, and a resurgent US economy, will support exports.
Headline Industry Data
2016 port of Haifa total tonnage throughput to grow by 2.5%, and to average growth of 4.1% to 2020.
2016 box handling at Haifa will expand by 2.5% to 1.30mn twenty-foot equivalent units (TEUs). Positivegrowth projected to continue in 2016 and average 3.7% from 2016 to 2020.
Israel's total trade is forecast to see real growth of 3.3% in 2016, from a 5.0% expansion in imports anda 1.5% growth in exports. Total trade growth will average real growth of 4.5% over the medium term.
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