BUENOS AIRES: Total tonnage volume at the port of Buenos Aires is set to increase by 1.6% in 2015, to reach 10.58mn tonnes. Box handling at the port will rise by 3.5%, to 1.08mn twenty-foot equivalent units (TEUs).
The country enjoys a good commodities mix but continues to struggle with external headwinds as well as internal difficulties such as rising inflation and labour unrest. Weaker private consumption will dampen imports while a weaker exchange rate will marginally improve the competitiveness of exports, with knock-on effects for port volumes.
Argentina’s economic recession will persist in 2015, and will be deeper than we previously anticipated due to very weak private consumption and gross fixed capital formation. Argentine real GDP will contract in 2015 due to tepid private consumption and fixed investment growth. Forecast real GDP growth of -0.7% in 2015, a downward revision from our prior forecast of -0.3% growth. This will follow estimated growth of -0.5% in 2014, which we have also revised down from our previous expectation for a 0.2% expansion.
The average price growth of 17.0% in 2015 that will weigh on the real purchasing power of consumers and drive consumer confidence lower. As a result we forecast real private consumption to fall by 0.3% in 2015, a downgrade from our previous forecast for flat growth. This will affect imports and therefore also port volumes.
A new container terminal, Tecplata, opened at the port of La Plata in the Argentine province of Buenos Aires on December 30 2014. The Tecplata facility is owned by Philippines-based International Container Terminal Services.
