China's logistics costs up 18.7% from Jan to Oct
Updated: 2011-11-24 09:43
BEIJING - China's logistics costs surged 18.7 percent year-on-year from Jan to Oct to 6.4 trillion yuan ($1.01 trillion), rising in tandem with rapidly increasing transport costs, according to a report issued Wednesday.
The logistics volume by October reached 131.7 trillion yuan, showing year-on-year growth rate of 13.3 percent, 3.2 percentage points lower than the same period in 2010, China Federation of Logistics and Purchasing (CFLP) said in a report on its website.
The growth rate of total logistics costs was flat when compared with the first three quarters, but maintained a high speed momentum, the CFLP said.
Meanwhile, transport costs rose 15.6 percent year-on-year to 3.3 trillion yuan, 0.2 percentage point higher than the increase in the first three quarters of 2011, CFLP said.
China Logistics Information Center (CLIC) attributed high transport expenditures to rising oil prices and labor costs.
In October, gasoline and diesel prices jumped 17.3 percent and 21.8 percent, respectively, while storage and management costs rose 23.4 percent and 18.7 percent, respectively, over the same period a year earlier, the report said.
The report also said that along with the country's policies carried out to boost the development of logistics, this sector is experiencing favorable operation state.
Revenues for the logistics sector climbed by 15.6 percent year-on-year, and the profit margin hit 4.5 percent in the first nine months, 2.4 and 0.1 percentage points, respectively, higher than that of the first eight months, according to the report.
However, for logistics enterprises, costs will continue growing faster than revenues in the near future, the CFLP said.