Global air cargo continues growth despite shifting trade patterns: IATA

The International Air Transport Association (IATA) says global air cargo demand rose 2.9 per cent year-over-year in September, marking the seventh consecutive month of growth.

Total demand, measured in cargo tonne-kilometres, increased 3.2 per cent for international operations, while available capacity grew three per cent globally and 4.4 per cent for international flights.

“Buried in that growth is a significant alteration of trade patterns as U.S. tariff policies, including the ending of de minimis exemptions, kick in,” said Willie Walsh, IATA’s director general. “On one side of the equation, a decline in North America-Asia demand has set in over the last five months. But this has been more than compensated for with strong growth within Asia and on routes linking Asia to Europe, Africa and the Middle East. While many had feared an unwinding of global trade, we are instead seeing air cargo adapting successfully to serve shifting market demands.”

IATA said several economic factors influenced performance in September, including a 3.7 per cent year-over-year increase in global goods trade and a 5.4 per cent rise in jet fuel prices, even as oil prices fell. Manufacturing sentiment also improved, with the global PMI reaching 51.3, indicating modest expansion.

Regionally, Asia-Pacific airlines led with 6.8 per cent growth in air cargo demand, followed by Africa at 14.7 per cent, the strongest rise of all regions. European carriers posted a 2.5 per cent increase, while the Middle East saw a 0.6 per cent gain. North American and Latin American carriers recorded declines of 1.2 per cent and 2.2 per cent, respectively.

IATA said air freight volumes increased across most major trade corridors, including Europe–Asia, Within Asia, Middle East–Asia, North America–Europe and Africa–Asia, while Asia–North America and Middle East–Europe saw declines.