Global airfreight volumes rose 5.9 percent in October from 12 months prior, while capacity ticked up 3.7 percent, according to the latest data from the International Air Transport Association (IATA).
Global airfreight volumes rose 5.9 percent in October from 12 months prior, according to the latest data from the International Air Transport Association (IATA).
Demand growth continued to outstrip capacity growth during the month, which ticked up 3.7 percent from last October.
Asia Pacific airlines experienced a 4.4 percent year-over-year uptick in airfreight volumes in October. “The region’s manufacturers continue to enjoy buoyant order books,” the IATA said. “And the major exporters in China and Japan are reporting growing backlogs supported in part by stronger economic activity in Europe.”
Airfreight volumes carried by European airlines rose 6.4 percent year-over-year in October. “Concerns that the recent strengthening of the euro might have affected the region’s exporters have not materialized yet,” the IATA said. “Europe’s manufacturers’ export orders are growing at their fastest pace in more than seven years. Freight demand remains very healthy on transatlantic routes and is strong on routes to and from Asia – having received a boost in trade from the economic stimulus measures put in place by China.”
Meanwhile, North American airfreight carriers increased airfreight volumes 6.6 percent year-over-year in October. “The strength of the U.S. economy and the U.S. dollar has boosted the inbound freight market in recent years,” the IATA said.
Airfreight volumes carried by Middle Eastern airfreight carriers rose 4.6 percent year-over-year in October, while Latin American airfreight carriers saw a 7.2 percent boost in airfreight volumes in October thanks to signs of recovery in Brazil, the region’s largest economy.
In addition, African airfreight carriers saw volumes skyrocket 30.3 percent year-over-year in October, fueled by strong growth on the trade lane to and from Asia.
Looking ahead, the IATA expects global airfreight volumes to grow in 2018, but at a slower pace than in 2017.
Overall, the Asia-Pacific makes up 37.4 percent of the total freight traffic market share, based on freight ton kilometers, followed by Europe at 23.5 percent, North America at 20.7 percent, the Middle East at 13.9 percent, Latin America at 2.8 percent and Africa at 1.6 percent.
IATA: Airfreight volumes rise 5.9% in October
