Cargo Shipping Transport Market Projected to Grow at a CAGR of 3.50% from 2016 to 2021

FROM USD 5,650

The Middle Eastern and African region has a highest growth potential in the next five years (2016-2021). The developing economies in Africa and oil exports by the Middle Eastern countries are the key contributor’s in the regional trade growth.

Although the oil exports have stalled due to the fall in international oil prices the region has seen significant growth in the container cargo shipping. Few Middle Eastern countries like Saudi Arabia are focusing on being independent of oil trade and African countries are poised for unprecedented growth in the coming year which will drive the growth of cargo shipping industry.

“Free trade unions will positively impact the growth in cargo shipping market”

Increasing number of countries formulating free trade agreements will boost the cargo shipping industry. The different free trade agreements such has NAFTA, AFTA, TPSEP, and others have helped countries significantly towards strengthening their economies. These agreements not only are responsible for the growth in trade between nations but also have direct impact on the shipping industry.

The study also contains insights from various industry experts, ranging fromREAD MORE >