Pitney Bowes Parcel Shipping Index Confirms Extended Effects of COVID-19 Lockdowns on Chinese Shipping Through 2022
09 Agosto 2023 - 9:00AM
Business Wire
Global parcel volume grew only 1 percent due to
unprecedented slowdown in China, while carrier revenue declined 1
percent
Pitney Bowes Inc. (NYSE: PBI), a global shipping and mailing
company that provides technology, logistics, and financial
services, today released their Global Parcel Shipping Index,
unveiling ‘22 data from 13 major countries worldwide. The Index
highlights that global parcel volume reached 161 billion in ‘22,
equivalent to 5,102 parcels shipped every second marking a 1
percent increase from ‘21. Notably, the Index reveals China’s
parcels experienced the slowest growth in its history, reaching 111
billion parcels in ‘22, with only a 2 percent increase.
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The Index estimates parcel volume will most likely reach 225
billion by 2028, with a 6% CAGR ‘23-’28, a change from 8%
forecasted last year.
“China parcel volume had maintained a double-digit growth rate
every year from ‘13 to ’21. However, in ‘22, COVID-related
lockdowns caused a sharp slowdown,” stated Gregg Zegras, Executive
Vice President, Global Ecommerce at Pitney Bowes. “As the world’s
second-largest economy, China is experiencing a frail pace of
growth during its COVID recovery. We’re seeing volume slowdown,
declining ecommerce sales, and an overall weak economy, projecting
a 7 percent parcel volume CAGR ’23 -‘28.” Pre-pandemic China parcel
volume forecast was 25 percent CAGR ‘18-’22 and actual volume
growth was lower, at 22 percent CAGR ‘18-’22.
Over the past seven years, global parcel volume surged by 150
percent from 64 billion parcels in ‘16 to 161 billion in ‘22. In
‘22, India led with the highest increase at 18 percent driven by
ecommerce expansion, while Italy (4 percent), China (2 percent)
Australia (2 percent) and Brazil (2 percent) also showed growth.
However, Sweden and Canada experienced significant declines at –11
percent and –9 percent respectively.
In '22, global parcel revenue declined by 1 percent to $485
billion, impacted by strong USD and its increase in value compared
to other currencies in the Index.
Only the US, Brazil, India, and Australia saw growth in parcel
revenue, with the US leading in carrier revenue with 7 percent
growth in ‘22. Revenue per parcel varied significantly, with Canada
highest at $9.8, followed by the US at $9.3 and France at $9.1.
Despite lower volume, the US generated more revenue than China due
to a significantly higher fee per parcel – almost seven times that
of China. China's revenue per parcel is $1.4, the lowest globally,
followed by India at $1.7 and Norway at $1.9.
Key findings from the latest Parcel Shipping Index
include:
- Parcel volume reached 161 billion in ‘22, up 1 percent
from 159 billion in ‘21
- 5,102 parcels shipped per second compared to 5,052 in
‘21
- Parcel revenue was $485 billion, down 1 percent from
$489 billion in ‘21
- Highest CAGR ‘17- ‘22 for parcel volume was generated by
China at 23 percent, followed by Brazil at 20 percent
- Highest CAGR ’17-’22 for parcel revenue was generated by
China at 17 percent, followed by the US at 13 percent and Italy at
12 percent
- China remains the largest parcel volume market,
contributing to the slow volume growth in ’22 due to its
unprecedented low 2 percent parcel volume increase
- United States remained the market with the highest
carrier revenue, reaching $198 billion, an increase of 7 percent
year-over-year
- While there is strong alignment between parcels per person
and GDP per capita in the US, Germany, Brazil, and India,
parcels per person in China, Japan, and UK exceed GDP, most likely
due to significant exports. In Norway, Sweden, and Australia there
is a reverse effect, with low parcels per person compared to GDP,
suggesting a fairly low penetration of Ecommerce.
- We analyzed relationships between parcel volume growth and
Ecommerce growth, and discovered that in the US, Canada, Brazil,
Japan, and India there is a large 12 to 8 percent gap between
parcel volume growth and Ecommerce growth, influenced by online
purchases that don’t require parcel shipping, such as online
groceries, Click-and-Collect and alternative delivery methods (gig
drivers, drones, bicycle deliveries in India). In the remaining
countries, the parcel volume and Ecommerce growth are well aligned
with a low gap, where online purchases utilize traditional
carrier-based shipping methods.
For detailed insights by region, please download the eBook
here.
The Shipping Index is an example of research Pitney Bowes
conducts annually to provide insight and forecasts on the shipping
and logistics industry. Pitney Bowes also conducts BOXpoll™ a
series of consumer surveys. Please visit
www.pitneybowes.com/boxpoll for the latest BOXpoll findings.
About the Pitney Bowes Parcel Shipping Index
The Pitney Bowes Parcel Shipping Index measures parcel volume
and spend for business-to-business, business-to-consumer,
consumer-to-business and consumer consigned shipments with weight
up to 31.5kg (70 pounds) across Australia, Brazil, Canada, China,
France, Germany, India, Italy, Japan, Norway, Sweden, the United
Kingdom and the United States. Population data points were sourced
from the International Monetary Fund, World Economic Outlook
Database published in 2020. The Pitney Bowes Parcel Shipping Index
spans 13 countries and represents the parcel shipping activity of
3.85 billion people.
About Pitney Bowes
Pitney Bowes (NYSE: PBI) is a global shipping and mailing
company that provides technology, logistics, and financial services
to more than 90 percent of the Fortune 500. Small business, retail,
enterprise, and government clients around the world rely on Pitney
Bowes to remove the complexity of sending mail and parcels. For the
latest news, corporate announcements and financial results visit
https://www.pitneybowes.com/us/newsroom.html. For additional
information visit Pitney Bowes at www.pitneybowes.com.
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John Spadafora Pitney Bowes M +1 518 708 3466
john.spadafora@pb.com
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