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FINANCIAL NEWS
Saudi’s logistic sector value to hit USD17.97b in 2015
12 Jan 2015
(MENAFN) Saudi Arabia’s logistics sector is expected to significantly expand in 2015, with the value of the sector poised to reach USD17.97 billion during the year, Arab News reported.
The increase in the logistics sector is expected after the GCC countries secured the biggest number of logistics contracts in the whole of the Middle East in 2013 thanks largely to significant investments, high consumer spending and rapid economic growth, with projections that the logistics sector in the GCC region is expected to grow by 6.9 percent in 2015.
The growth in the sector is expected to include its numerous areas including air freight, integrated transportation modes, courier services, air, land and sea transportation, combined transportation systems, electronic data interchange systems, Enterprise Resource Planning (ERP) systems, e-services, distribution services, free zone equipment and services, and insurance companies and services, among others.
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