China's freight volume grows 7.1% YoY in July 2023

25 Aug '23

1 min read

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Insights

China's transport sector showed steady recovery in July 2023, with freight volume up 7.1 per cent YoY to 4.74 billion tonnes, and port throughput rising 6.6 per cent to 1.43 billion tonnes.
Container throughput also grew by 2.6 per cent YoY, as per the transport ministry.
The growth indicates a resilient and favourable outlook for the transport industry.

China’s transport sector displayed a steady recovery in July 2023, reflecting a continued bounce back in the country’s economy. The freight volume grew 7.1 per cent year-on-year (YoY) to 4.74 billion tonnes, accelerating from a 4.3 per cent rise in June 2023, as per the ministry of transport.

Furthermore, the country’s port throughput increased by 6.6 per cent to 1.43 billion tonnes, and container throughput reached 27.05 million twenty-foot equivalent units, a YoY rise of 2.6 per cent. These statistics add to the signs of ongoing recovery in the world’s second-largest economy.

The consistent growth in China’s transport sector offers a promising insight into the resilience of the country’s economic recovery. The data for July illustrates the ongoing progress and suggests a favourable outlook for the transport industry as China continues to navigate the global economic landscape.

ALCHEMPro News Desk (NB)

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