BMI predicts growth in UAE cargo volumes
Cargo volumes will continue to rise in the United Arab Emirates over the next five years, although growth rates will be placed in jeopardy by the threat of a global slowdown is H210 and into 2011, according to Business Monitor International.
The assessment was published last month in the research company’s UAE Freight Transport Report Q4 2010, which predicted that maritime freight will outpace the growth of airfreight over the 2010-2014 period.
“The country is experiencing a recovery in its overall trade, after the declines of 2008/2009. A number of road projects have been finished, and phase one of Dubai World Central-Al Maktoum International Airport became operational for cargo flights in June 2010. The ambitious Union Railway that will link all seven emirates with Saudi Arabia and Oman is also going ahead,” explained Michelle Byrne, head of shipping and freight transport at BMI’s London office.
“However, there is still the possibility of a double-dip recession knocking the UAE’s growth in 2009 off-track. But despite this risk, the positive trend in the economy and its freight transport sector for 2010 means that in BMI’s view airfreight will grow at 4-5% and maritime freight will grow between 11-18% over the 2010-14 period. This is expected to be less than occurred before the economic crisis, but will still be strong and positive growth,” she added.