Australian box trade to near-triple in under 20 years

This article has been taken directly from here.

Australia’s total container trade will increase by 5.1% per annum over the next 20 years to 19.4m twenty foot containers (TEU), up from the current total of 7.17m, according to the Bureau of Infrastructure, Transport and Regional Economics (BITRE).

Its report Containerised and non-containerised trade through Australian ports to 2032/33 states that total box trade has increased by 6.5% per annum over the last 14 years to 7.2m teu in 2012/13.

Total trade increased by 1.48% to 7.17m teu in 2012/13, from 7.06m teu in 2011/12.

This trade was forecast to grow by 3.35% to 7.41m teu in 2013/14.

“With the positive economic outlook for Australia and its major trading partners, Australia’s exports and imports are projected to grow positively over the forecast period,” according to the report.

Total containerised imports are forecast to increase by 5.1% a year over the next 20 years to 9.8 teu in 2032/33.

“Full containerised imports, which increased by 7% a year over the last 14 years, are projected to grow by 5.3% a year over the forecast period, from 3.3m teu in 2012/13 to 9.2m teu in 2032/33.

Empty container imports are projected to increase by 3% a year over the next 20 years to 0.6m teu,” according to the report.

Full and empty container exports through all Australian ports are projected to grow by 4.1% and 6.3% a year, respectively, over the forecast period to 4.8m teu each in 2032/33.