Activity levels across Malaysia's different freight modes will grow moderately-to-strongly in 2015, generally picking up pace compared to our estimated levels for 2014. As infrastructure investment plans are advancing, Malaysia will be gradually expanding its freight capacity to match. Airfreight, potentially affected by the crisis felt by Malaysia Airlines, will nevertheless notch up growth in the low single digits, while railfreight will do a little better. In shipping, gross tonnage and container volume growth will pick up as both exports and imports continue to grow, despite a slight easing of domestic consumption.
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The Malaysian economy surged ahead in 2014, driven by strong export demand and dynamic domestic consumption. Although we remain positive in our outlook for 2015, we believe one of those two engines of expansion - the domestic consumer market - is going to lose some of its vigour. GDP grew by 6.2% in Q114 and by 6.4% in Q214, persuading us to raise out estimate for full calendar 2014 growth to 5.8% (up from 4.5% previously). Our forecast for 2015 is that growth will ease back to a slower, but still impressive 4.2%.
We think export growth will remain pretty strong, as there is evidence of a sustained recovery in global demand for electronics and semi-conductors, both key products of the Malaysian manufacturing sector. However, we do expect government action to cool the boom in the domestic consumer market, particularly given the relatively high levels of household debt. The authorities have already sought to reduce liquidity in the market, and a tightening of interest rates to restrain inflationary pressure is on the cards.
Headline Industry Data
* The real value of Malaysia's total trade will rise by a predicted 4.5% in 2015, a slight dip on the 4.7% expansion estimated in 2014.
* Total cargo volume handled at Port Klang will rise by 1.4% to 202.33mn tonnes in 2015, while volume at the port of Tanjung Pelepas will...
The Malaysia Freight Transport Report has been researched at source, and features latest-available data covering commercial transport and logistics by road, rail, air and water; industry forecasts, company rankings covering leading national and multinational operators; and analysis of latest industry trends, opportunities, projects and regulatory changes.
Business Monitor International (BMI)'s Malaysia Freight Transport Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Malaysian freight transport and logistics industry.
Key Benefits
* Benchmark BMI's independent freight transport industry forecasts on Malaysia to test other views - a key input for successful budgetary and planning in the strategic freight transport market.
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Malaysia Freight Transport Report Q1 2015 - New Study Released
Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001