The national railway freight traffic of main cargos in China saw significant fluctuations between 2013 and 2023. In 2023, the volume stood at 401.47 ten million metric tons. From 2013 to 2016, the traffic experienced a declining trend with a CAGR of -4.18% during 2016, followed by a recovery phase starting in 2017. The period from 2017 to 2023 marked a steady increase in freight traffic, with a notable CAGR of 4.71% over the last five years.
Year-on-year variations over the last two years show moderate growth rates of 3.92% in 2022 and 3.73% in 2023, reflecting a stable upward trajectory. Looking forward, from 2024 to 2028, the forecasted yearly growth averages at 2.55%, translating into an overall growth rate of 13.41% by 2028.
Future trends to watch for include potential infrastructure expansions, technological advancements in railway logistics, and shifts in China's economic policies that might impact freight demands and efficiency in the railway network.
