If the trade in materials and goods for building infrastracture is anything to go on, the long term forecast for civil engineering is good worldwide.
The latest trade forecast by HSBC was issued October 8, indicating a “significant rise” in infrastructure related trade, with a forecast growth of 9% annually between 2013 and 2030.
The report predicts that in Canada, the share of infrastructure-related goods – such as transport equipment, industrial machinery and non-ferrous metals – will increase from 22% to 32% by 2030.
Ben Arber, Head of Global Trade and Receivables Finance, HSBC Bank Canada said: “The investment that many countries are making in infrastructure is significant, and this provides a huge opportunity for businesses looking to grow and develop. Canada is well positioned both in terms of the abundance of natural resources and companies with extraction, engineering and project management expertise.”
The report differentiates between goods for infrastructure – the materials needed for infrastructure projects, and investment equipment – the machinery required by businesses to boost production.
While the U.S. is currently the biggest importer of infrastructure-related goods, by 2020 India will take over. China is set to become the top importer of investment equipment by 2020 as it boosts manufacturing capacity.
The report says that other rapidly-growing Asian economies will take an increasing share of infrastructure-related imports over time, with Malaysia, Korea and Vietnam moving up the rankings. Excluding the U.S., Mexico is the highest ranking non-Asian importer of total infrastructure goods, ahead of Brazil.
To read the full press release, click here.