Slovakia Freight Transport Report 2016
BMI View: We forecast growth in the freight sector despite the fact that Slovakia's economy is facingsignificant headwinds from waning growth momentum in developed eurozone states, which will poseproblems for Slovakia's freight mix going forward into 2016. Air freight will show the strongest growth overthe next year due to continued consumer spending, followed by rail freight strengthened by infrastructureinvestment, and inland waterways continuing to grow, but at a slower pace than in 2015. Road freight willcontinue to post the slowest growth, as rail and inland waterways are taking over some of the momentum.
GDP growth in Slovakia is forecast at 3.2% in 2016, up from 3.1% estimated for 2015. The acceleration inGDP over the last two years has been driven primarily by a recovery in the domestic demand. Exportgrowth will remain robust on the back of a eurozone recovery, but rising import volumes will mitigate itsimpact on headline GDP. Economic growth in the coming years will be well balanced as exports aresupported by a eurozone recovery. The export-oriented manufacturing sector is a significant employer in theeconomy, and its success will be vital in sustaining the recovery in private consumption. However, a levelof uncertainty over the macroeconomic climate will impact private sector confidence and serve as adownside risk for freight, not just in Slovakia, but in most countries in Europe.
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