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Kingdom's transport, communications sectors outpacing economy
By Saudi Gazette Staff
Published in The Saudi Gazette on 26 - 08 - 2009

The Saudi Ports Authority in its Q109 figures, said that the global downturn had hit throughput levels at the Kiingdom's ports. Total cargo throughput at the ports declined by 11.39 percent year on year (y-o-y). The country's largest ports, Jeddah Islamic Port (JIP) and Dammam's King Abdul Aziz Port, recorded y-o-y declines of 31.46 percent and 25.24 percent, respectively, in Q109 in total cargo handled. The largest decline in throughput, of 79.8 percent, was at the Yanbu Commercial Port.
The only port in Saudi Arabia's maritime sector to record growth was the King Fahad Industrial Port in Yanbu, where total cargo handled grew by 11.37 percent.
The report believes that this port was able to maintain growth because it is Saudi Arabia's main port for the export of crude oil, refined products and petrochemicals. Export of these, unlike other exports, continued growing despite the global economic downturn, with petrochemicals loaded at the country's ports seeing the largest Q109 y-o-y increase of 23.11 percent. Container throughput fell in Q109 at JIP and Dammam, Saudi Arabia's main ports.
In the latest Saudi Freight Transport Report, BMI concluded that the Kingdom's freight tonnage traffic, across all modes, is likely to grow by an annual average of 1.6 percent over the next five years. Various factors underpin our prediction. “We now think that Saudi GDP growth in 2009-2013 will reach an annual average of 3.3 percent (lower than the 4.3 percent achieved over the preceding five years). Albeit at a reduced rate, oil and gas exports will be the drivers of foreign trade. Although the pace of trade growth will ease, tanker exports will remain important. Large infrastructure projects will also help to expand transport capacity and boost demand for cargo.”
By transport mode, the report said the fastest growing to be rail at 4.5 percent, airfreight at 4.3 percent, road haulage at 3.6 percent, pipeline throughput at 2.3 percent and sea cargo at an annual average of 1.1 percent. The slower growth of oil and gas pipeline throughput will reflect the cooling of the oil price boom.
Saudi Arabia scores moderately in terms of its growth forecast for freight transport across all modes through to 2013, with an annual average of 1.6 percent.
However, with its petrodollar revenues, the Kingdom has demonstrated a commitment to reforming and improving its transport sector, and the current policy agenda (including greater private sector involvement) should bring results. Saudi Arabia's overall freight rating at 59.1 out of 100 is a little below the average for the Middle East and Africa (MEA) region.
“It scores well in terms of its economic outlook because of its abundant natural resources, principally oil and gas. However, it does less well in terms of its freight-transport growth projections over the 2009-2013 period and its current regulatory environment,” the report noted.
For the 2009-2013 forecast period, “we expect the transport and communications sector to continue outpacing the economy as a whole in GDP growth terms. It will achieve average annual growth of 3.8 percent, versus 3.3 percent for overall GDP. The total value of transport and communications GDP will rise to $32.9 billion in nominal terms by 2013, representing 5.7 percent of Saudi Arabia's GDP. __


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