We retain our cautious outlook on Chile's freight transport sector and the economy as a whole, largely on the back of the slowdown in Chinese growth and its demand for copper. We believe that weaker fixed investment in Chile amid mounting external headwinds such as cooli ng external demand for copper will affect real GDP growth in Chile in 2014. In addition, de teriorating investor sentiment and an ongoing slowdown in private consumption will drive growth even lower in Chile in 2014. Economic growth will accelerate moderately in 2015 on the back of stronger government consumption, an improved net exports position and a slight rebound in fixed investment.
Considerable investment in the expansion of Chile's ports confirms our positive outlook for its ports infrastructure and the wider construction industry. In the immediate term, we expect the port of San Antonio, now the country's largest port, to continue to outperform the port of Valparaíso. The former is expected to continue its solid pace of growth witnessed recently, registering growth in container throughput of almost 10% over medium-term forecast to 2018.
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We also maintain our positive outlook for Chile's construction industry on the back of an investor-friendly business environment, political stability, and a strong pipeline of projects. Although we estimate a moderate slowdown in real growth for 2013 and 2014 to 4.7% and 5.6% respectively, compared with 8.1% in 2012, this still represents a promising outlook. It should bode well for the freight infrastructure developments in the pipeline across Chile.
However, the country's H113 economic performance has reinforced our conviction that lower commodities prices and weakening external demand for industrial metals will weigh on Chile's economy over a multi-year timeframe. This slowdown in growth is attributable to decelerating economic activity in China, which over the next few years will result in weakening real demand for Chilean copper...
The Chile 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 Chile Freight Transport Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Chilean freight transport and logistics industry.
Key Benefits
* Benchmark BMI's independent freight transport industry forecasts on Chile to test other views - a key input for successful budgetary and planning in the strategic freight transport market.
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Market Report, "Chile Freight Transport Report Q4 2014", published
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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