UPS upbeat on intra-Asian trade
United Parcel Service believes the current growth of containerised cargo and air freight is merely the start of an upward climb and expects a trade boom in the next few years. “More than 40 per cent of global trade now takes place between APEC (Asia-Pacifi c Economic Co-operation) members,” said UPS regional vicepresident of international […]
October 1, 2008
“More than 40 per cent of global trade now takes place between APEC (Asia-Pacifi c Economic Co-operation) members,” said UPS regional vicepresident of international trade services James Goh, adding that “rapid growth is expected to continue, especially after the region had shown its resilience with an early recovery from the recent economic crisis”.
Contributions from Asia Pacific’s exports and imports will continue to come from the electrical and electronic equipment industry, accounting for 17.2 per cent and 15.7 per cent of the total respectively, he said.
Goh believes China and Japan will continue to be the top exporting and importing countries in the Asia-Pacific region as they account for over 50 per cent of the transpacific volume.
While the shipping sector has seen rapid cargo growth in Asia air transportation has also seen significant growth with general Asian freight traffic expected to grow at 5.4 per cent annually and intra-Asia cargo at 8.6 per cent. Time-definite air express segments are expected to grow at around 13.8 per cent, according to Goh.