15 October 2014

Shipping and logistics to drive Malta’s growth

Times of Malta 05/10/2014: Exports from Malta are forecast to grow by 80 per cent in the coming 15 years, according to HSBC head of trade and receivables in Europe Steve Box, with tremendous opportunities being generated in shipping and logistics for Malta to exploit.

The forecast is unchanged from three years ago, when HSBC had predicted annualised growth of 0.69 per cent to 2016, rising to 5.65 per cent between 2017 and 2021.

Mr Box was speaking at the presentation of the HSBC Global Trade Forecast, which found that exporters and importers in sectors such as transport equipment and metals would be the first beneficiaries as the pace of growth in cross-border commerce recovered to eight per cent in 2016, from just 2.5 per cent last year.

Looking ahead to 2020, the forecast – which looks at 25 economies – predicts that global merchandise trade would more than triple as companies capitalised on increasing productivity and consumer wealth in emerging markets. The importance of external trade for...read on.