Peru Freight Transport Report Q1 2016
BMI View: Peru's freight sector will continue to have mixed growth rates in 2016, with a contraction in railfreight volumes of 2.48%, slowing growth in road freight at 1.05%, and the strongest growth in air freightat 2.75%. Rail freight has been affected by low exports of copper and generally subdued metals prices,while road freight growth will improve on 2015 estimates due to moderate growth in trade activity andconstruction sector growth. Rising private consumption leading to stronger demand for consumerelectronics will benefit the air freight sector the most, hence the strongest growth forecast for this transportmode.
The economy in Peru is steadily improving and we forecast GDP growth at 3.8% for 2016, up from 2.2%estimated for 2015. August and September 2015 have however seen below expectations growth rates inGDP. The moderate growth is largely due to a slowdown in Peru's mining fuelled economy as mineralprices have been weaker. Rising copper production from new mines has on the other hand helped underpinofficial forecasts for a recovery, and economic growth has increased mainly because of mining. 2015 hasseen a recovery in fishing, manufacturing and mining sectors, which will help the economy in the comingyear and over the medium term. Unemployment has also been at its lowest of the year in the last twomonths. Going forward, Chinese investments in Peru will benefit the economy as the country seeks toaccelerate their developments particularly through building major infrastructure projects, positivelyimpacting the freight sector.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook