Q4 January 2026

Quarterly Report | Published January 2026

THE LOGISTICS SECTOR ENDED 2025 UNDER PRESSURE 

The Ctrack Transport & Freight Index (TFI) ended 2025 at 117.1, reflecting a modest 2.8% year-on-year increase but contracting in Q4 as weakness became more widespread. For the full year, the logistics sector experienced a second consecutive annual contraction of 1.9%, largely due to ongoing pressure in the heavily weighted road freight sub-sector (-4.5%), alongside declines in pipeline (-3.1%) and storage (-2.3%). Air freight once again led as the star performer (+7.2%), supported by solid gains in rail (+3.7%) and sea freight (+3.9%). Notable progress on structural reforms in ports and rail offers hope for improved efficiencies in the medium term, though the fragmented nature of the sector continues to limit overall performance.

For a detailed breakdown of sub-sector performances, charts, and in-depth analysis, please download the full Ctrack Transport & Freight Index 4th Quarter 2025 report here.