China’s logistics market expands in January November 2021

BEIJING: China’s logistics market continued to expand in the January-November period this year, despite the sporadic resurgence of COVID-19 cases, data from the China Federation of Logistics and Purchasing showed Tuesday.

The total value of goods in the logistics sector was 288.8 trillion yuan ($45.34 trillion) in the 11 months, rising 9.7 per cent year on year.

The logistics demand for imports has been improving. Though the import logistics shrank 0.2 per cent year on year in the past 11 months, it rebounded in November with a year-on-year growth of 8.9 per cent.

In terms of commodities, coal imports picked up significantly, while imports of iron ore, crude oil, soybeans and other commodities remained weak. China’s imports of coal and brown coal rose 10.6 per cent year on year in the past 11 months, while the growth rate stood at 200 per cent in November alone.

The total revenue of the logistics sector came in at 10.8 trillion yuan in the past 11 months, up 15 per cent year on year with a two-year average growth of 8.2 per cent, according to the federation.