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Jumat, 06 Desember 2019 23:57:00

India's trade growth remains buoyant thanks to strong ocean trade

Ocean imports and exports maintain momentum as key industries experience recovery, causing trade growth index to rise significantly

India is the only country in the Global Trade Barometer with a positive trade outlook for the next quarter

MUMBAI, INDIA - 6 December 2019 - Strong ocean imports and exports will sustain India's trade growth over the three-month period ending in January 2020, making it the only country out of the world's seven largest economies with a positive trade outlook according to data from the DHL Global Trade Barometer released by DHL, the world's leading logistics company.

The DHL Global Trade Barometer, an early indicator of global trade developments calculated using Artificial Intelligence and Big Data, predict mildly positive growth for Indian trade with the country's Index rising five points to 54.[1] The positive outlook is driven primarily by an uptake in ocean imports of Basic & Industrial Raw Materials and Chemicals & Products, coupled with a gradual revival in air exports of Consumer Fashion Goods.[2] In total, ocean trade grew by 10 points, maintaining India's positive outlook even as air trade forecasts experience relative weakness.

 "India has the strongest trade forecast this quarter and the highest index value of all countries in the latest Global Trade Barometer survey, followed closely by the United Kingdom and Japan," said Niki Frank, CEO, DHL Global Forwarding India. "This highlights the underlying potential of India's economy, which will benefit from the government's plan to invest US$1.39 trillion (1.26 trillion) in infrastructure projects. The country's commitment to establishing itself as a strategic maritime hub with initiatives and investments in coastal infrastructure appear to be supporting the Index's positive ocean trade outlook and will likely also contribute positively to longer-term trade growth."

Steady but mild decline negatively affects all countries, except India

The Barometer's results also suggest that world trade is expected to continue at moderate pace but further contract for the next three months, driven by minor decreases in both air and containerized ocean trade. Against previous quarters this year, the downward trend in trade growth remains mostly stable, neither indicating an acceleration of the decline nor a bottoming out of contractionary movement. All seven nations monitored by the Barometer received indexes below 50 points except for India, where the Barometer forecasts moderate growth of five points to 54 points for India. While Japan and the UK had been the only countries with positive trade outlooks in the previous update in September, the two countries record the highest losses in this period.(roc/red/*) #for information on collaboration publications, questions and other e-mails riauonemedia@gmail.com
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