Sluggish airfrieght growth resulted from a decrease in trade activity, primarily in emerging markets and weaker than expected global growth, according to the International Air Transport Association.
Airfreight volumes grew 1.2 percent year-over-year in June, and 3.5 percent year-over-year in the first half of 2015, according to the latest figures from The International Air Transport Association (IATA).
IATA attributed the sluggish growth to a decrease in trade activity, primarily in emerging markets and weaker than expected global growth. Slow growth in China, emerging markets in South America, including Brazil and Argentina, and a weak first quarter in the United States hindered global growth, the association said.
Asia Pacific airfreight carriers saw volumes drop 0.3 percent year-over-year in June from a slowdown of imports and exports in recent months.
Volumes remained flat in June for North Europe airfreight carriers, as increased business confidence in the Eurozone had yet to boost airfreight demand.
North American airfreight carriers reported the largest loss of all the regions, with a 3.3 percent drop in airfreight volumes year-over-year in June from bad weather and congestion at United States sea ports.
Latin American airfreight carriers saw volumes drop 1.6 percent year-over-year in June, as trade in the region had been hindered by Brazil and Argentina’s weak economies. In addition, solid gains in regional trade had yet to benefit the airfreight sector.
Middle Eastern airfreight carriers saw the strongest growth as a result of an increase in airfreight capacity through Middle Eastern hubs. Carriers reported a 15.3 percent increase in airfreight volumes year-over-year in June.
For African airfreight carriers, airfreight volumes increased 6.7 percent year-over-year in June, with overall regional trade activity holding up despite Nigeria and South Africa’s economies underperforming.
“The remainder of the year holds mixed signals. The general expectation is for an acceleration of economic growth, but business confidence and export orders look weak,” IATA Director General and CEO Tony Tyler said in a statement. “Air cargo and the global economy will all benefit if governments can successfully focus on stabilizing growth and stimulating trade by removing barriers.”
IATA: Slow cargo growth continues into June
