The Commerce Department has recently suggested that the economy could get a boost from significant gains in wholesale and retail inventories last month, and trade would once again contribute to gross domestic product in the third quarter. This led economists to upgrade their GDP growth estimates.
Amid this, continued technological advancements and a surge in e-commerce activities should drive the shipping industry’s growth. The global logistics market reached a value of $4.92 trillion in 2021. The IMARC Group has projected the market to reach $6.55 trillion by 2027, growing at a CAGR of 4.7% during 2022-2027.
