Germany in for slow air cargo growth
German air cargo volume will increase by 6 percent in 2011 following a 0.8 percent growth last year, according to the firm Research and Markets. Tonnage this year is anticipated to reach the 3.567 million mark.
Not everything is rosy, however. The report indicated that, after a steady 2010, "a slowdown is on the cards for 2011, which will affect the operating environment for freight transport companies. Surveys of industrial and service companies in the second half of 2010 detected growing concern over the sustainability of the US economic recovery and the Greek sovereign debt overhang; Ireland's financial crisis added to the more sombre outlook for the euro zone, a key export market for Germany."
Research and Markets anticipates an overall economic growth of 1.6 percent this year and 1.8 percent in 2012. Between 2010 and 2015, economic growth will average out to an annual total of 1.7 percent. According to the report, this number means "Germany will perform rather solidly but unexcitingly. Like other mature economies in the euro zone, Germany will struggle with defacto 2.0% annual growth ceiling."
It's not as if other German industries are faring any better than air cargo. The firm indicates that total volume transported by road will creep up 0.4 percent this year, an increase that is dwarfed by the 10 percent drop the industry saw in 2009. German shipping lines are experiencing a bit better outlook, as most of them are now operating in the black, the study finds.