Forecast: Volume of National Coastal Shipping in Australia

The volume of national coastal shipping in Australia stood at 97.17 billion tonne kilometers in 2023. Analyzing the historical data from 2013 to 2023, the sector experienced fluctuations with an overall downward trend. The highest volume recorded was in 2019 at 120.7 billion tonne kilometers, followed by a significant drop to 96.6 billion tonne kilometers in 2021. In percentage terms, the year-on-year change over the last two years shows a slight decline of 0.23% in 2023, following a small increase of 0.83% in 2022. The compound annual growth rate (CAGR) over the last five years (2018-2023) is -2.24%, indicating a notable decrease in activities.

Looking ahead, forecast data for 2024-2028 suggests a steady decline in volume, with a forecasted CAGR of -0.18%. A minor annual decrease of approximately 0.18% is expected, pointing towards a slowdown in growth.

Future trends to watch for include potential regulatory changes, technological advancements in shipping, shifts in international trade partners, and the impact of environmental policies. Monitoring these factors will be crucial for predicting the sustainability and growth of the coastal shipping sector in Australia.