CFLP Predicts a 9.5% Growth Rate for Logistics Industry

www.chinatrucks.com: On August 8, 2013, China Federation of Logistics and Purchasing (CFLP) announces in its report that the logistic industry will continue with the steady growth in the second half year with traditional logistics like bulk commodity remaining depressed and integrated logistic and supply chain management being new growth points. The whole year is estimated to maintain a growth rate of 9% to 9.5%.

According to CFLP statistics, in the first half year, the value of China’s social logistics totals 93.1 trillion yuan, in comparable price, growing by 9.1%, a relatively weak growth.

Seen from the composition of logistics value, the logistic value for industrial products totals 85.4 trillion yuan, accounting for 91.8% of the total, up by 9.3%. Imported cargo logistic value totals 5.9 trillion yuan, accounting for 6.4%, up by 6%. Logistic value for agricultural products, renewable resources, commodities for companies and individuals grow by 3.0%, 21.4% and 27.0% respectively.

In the first half year, the added value for China’s logistics industry is 1.8 trillion yuan, up by 7.4%, accounting for a leveling-off percentage in the national GDP—7.2%. The added value for public transportation is 1.3 trillion yuan, up by 5.9%; that for trade is 313.6 billion yuan, up by 9.1%; and that for storage and post service industries grows respectively by 9.9% and 30.1%.

In the first half year, the total cost of social logistics is 4.5 trillion yuan, up by 9.0%, 18% in GDP, almost the same with last year, indicating the high logistic costs. The cost for transportation is 2.3 trillion yuan, up by 8.5%; the storage cost is 1.6 trillion yuan, up by 9.3% and management cost is 571.9 billion yuan, up by 10.6%.

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