The railway freight traffic for petroleum in China decreased steadily from 2013 to 2022, reflecting a decline of 2 million metric tons over the period. In 2023, it stood at 10.77 million metric tons, showing a modest increase of 0.6% from 2022. The Compound Annual Growth Rate (CAGR) over the past five years highlights a gradual decline of -1.31%. However, the forecasted data suggests a shift, with projected growth from 2024 to 2028 reaching a 2.25% total increase and a 0.45% annual growth rate on average.
Future Trends to Watch For:
- Stability in freight traffic volumes starting from 2024 with a slight upward trend.
- Impact of infrastructure investments and policy changes on the growth rate.
- Potential influence of national energy strategies and economic shifts on petroleum demand.
