The volume of rail freight transport in China exhibited a fluctuating yet growing trend over the last decade, peaking in 2023 with a value of 3.1736 trillion tonne kilometers. Looking back, the period was marked by significant year-on-year variations, including notable drops in 2015 and 2020 and substantial increases in 2017 and 2021. From a longer-term perspective, the Compound Annual Growth Rate (CAGR) over the last 5 years stood at 1.95%, suggesting a moderate annual increase despite short-term volatilities. Forecasts indicate a steady upward trajectory, with the volume expected to reach 3.4371 trillion tonne kilometers by 2028 and a forecasted 5-year CAGR of 1.23%.
Future trends to watch for:
