The Total Inland Freight Transport in China saw varying year-on-year growth rates across the past decade, with fluctuations driven by economic conditions, policy changes, and external shocks. The value in 2023 stood at 16.696 trillion tonne-kilometers, reflecting a marginal increase of 2.78% from 2022. Observing the past five years (2018 to 2023), the Compound Annual Growth Rate (CAGR) was approximately 1.83%, indicating modest growth in this segment.
From 2013 to 2023, there were notable periods of contraction, especially in 2015, 2019, and a significant dip in 2020 by -12.39%, largely attributable to the COVID-19 pandemic's impact. Conversely, there were robust growth periods with 2021 being the most remarkable, showing a 26.67% increase as recovery efforts took hold.
The forecast from 2024 to 2028 suggests a positive outlook with an anticipated CAGR of 2.07% and an overall growth rate of 10.81% over the next five years, reaching a projected 19.074 trillion tonne-kilometers in 2028.
Future trends to watch for include:
- Impact of infrastructural developments and Belt and Road Initiative investments
- Potential regulatory changes affecting the logistics sector
- Technological advancements in transportation and logistics efficiencies
- Environmental policies and their influence on transport modes
