THE country's logistics industry expects to rebound this year following a slump because of the coronavirus pandemic. In a January 2022 report, the India-based market intelligence adviser Mordor Group sees the Philippine freight and logistics market growing at a rate of no less than 8 percent this year. The industry includes the courier, express and parcel (CEP) market and the sectors of transportation, warehousing, cold storage and e-commerce. The logistics sector has exponentially grown, contributing 70 percent to the economic growth from 2020 to 2021 in spite of the pandemic, according to the National Economic and Development Authority (NEDA). The growth is expected to carry over this year, with the logistics industry's forecasts hitting a high of P1 trillion by the year 2024.

Source: Manila Times January 26, 2022 22:18 UTC