May. 2, 2012 (China Knowledge) - China’s total logistics expense grew 12.2% year on year to RMB 1.9 trillion in the first three months of this year, accounting for 17.9% of the country's gross domestic product in the period, according to figures from the National Development and Reform Commission
The growth rate was 5.7 percentage points lower than that in the same period of 2011.
Of the total expense, RMB 1.04 trillion was transportation cost, up 11.1% year on year, RMB 670 billion was storage cost, up 13% year on year, and RMB 200 billion was interest expense, 14.7% more than that in the same period of last year.
The value of goods transported by logistics industry grew 10.9% year on year to RMB 38.6 trillion in the first three months. The growth rate was 3.3 percentage points lower than that in the corresponding period of 2011. The value included RMB 35.1 trillion of industrial products and RMB 2.8 trillion of imported goods, 11.6% and 2.1% more than that in the same period of last year, respectively.
The logistics industry saw its value-added output rise 10.8% year on year to RMB 800 billion in the 3-month period, including RMB 600 billion in the transportation sector and RMB 100 billion in the trade sector.