BMI View: The outlook for the Saudi Arabian freight transport sector is somewhat mixed in the near term,as the impact of the oil price collapse in 2014 makes itself felt in the economy. Road haulage volumes,which cater primarily for the domestic market, will see the slowest growth rate. The air freight sector willbe supported by transhipment volumes and low statistical base effects, while rail freight volumes willcontinue to enjoy strong growth on the back of concerted investment into the network.
Saudi Arabia's trade is overwhelmingly driven by its oil exports. With the global price of Brent crudehaving fallen dramatically through the close of 2014, the country's nominal trade value has dropped off.
Nevertheless, in real terms we expect continued growth, and the rising wealth of the country's population,and steady - if slow - diversification of the economy will see trade continue to expand over the course of ourforecast period.
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