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FINANCIAL NEWS
UAE’s logistics market to grow 15.4 percent in 2014
22 May 2014
(MENAFN) The UAE logistics market accounted 6 percent of the country’s gross domestic product reaching USD23.4 billion in 2013, according to the Emirates 24/7.
The emirates’ logistics market is expected to grow 15.4 percent in 2014 to reach USD27 billion, said Srinath Manda, Program Manager for Transportation & Logistics Practice, Middle East, North Africa and South Asia, at Frost & Sullivan.
Srinath Manda said: “With billions of dollars being invested in fast-track development of transportation infrastructure, the UAE, a dominant provider to global energy markets, faces unprecedented opportunities and challenges to retain its position as a world-class logistics hub” Total logistics market in the UAE for the year 2013 was estimated at about USD23.4bn which includes the revenues from logistics services for domestic manufacturing, import-export trading, services and agricultural sector.”
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