The volume of national coastal shipping in China was 5.7582 trillion tonne kilometers in 2023. The data reveals fluctuations over the years, with year-on-year variations indicating some volatility in the market. For instance, between 2013 and 2018, there were several periods of modest declines and recoveries. From 2019 onwards, the market demonstrated a stable growth pattern, albeit at a slower pace. Recent two years show a positive but modest uptick, indicating a steadier trend compared to past years. The five-year compound annual growth rate (CAGR) stood at 1.02%, suggesting slow but positive overall growth moving forward.
Future trends to watch for include potential impacts of governmental policies aimed at reducing carbon emissions, technological advancements in shipping logistics, and shifts in global trade patterns. Furthermore, any significant economic reforms or geopolitical developments in the region could also influence the volume of coastal shipping in China.
