Derived from the growth of trade, e-commerce and the capacity limitations of maritime transport , the movement of air cargo worldwide continues to “soar the skies” since May became the sixth month of increase, with a growth of 14.7% year-on-year .
“Air cargo demand rose sharply in May in all regions. “The outlook remains largely positive as purchasing managers show expectations for future growth,” said Willie Walsh, director general of the International Air Transport Association (IATA) .
In a statement, it specified that capacity , measured in available cargo ton-kilometers (ACTK), increased by 6.7% compared to May 2023 (10.2% for international operations).
In May, he said, the Purchasing Managers’ Index (PMI) for global manufacturing production and new export orders indicated an expansion (52.6 and 50.4, respectively).
While industrial production and global cross-border trade increased month-on-month in May (0.5% and 1.5%, respectively).
Inflation had a mixed outlook in April. In the European Union and Japan, inflation rates fell to 2.7% and 2.8% respectively, while in the United States they rose to 3.3 percent. In contrast, China’s inflation rate remained near zero (0.3%), reflecting weak domestic demand due to high unemployment, slow income growth and the real estate crisis, a trend that persists since 2023.
African airlines recorded 18.4% year-on-year growth in air cargo demand in May, the strongest of all regions. Demand in the Africa-Asia market increased by 40.6% compared to the same month in 2023, the best performance of all trade routes. Capacity increased 21.4% year-on-year.
While North American airlines experienced year-over-year air cargo demand growth of 8.7%, the weakest among all regions. Demand on the Asia-North America trade route grew 12% year-on-year, while the North America-Europe route saw an increase of 8.9%, marking the highest demand growth for this route since mid-2022. Capacity increased by 2.5% year-on-year.
However, Willie Walsh highlighted that the growth scenario could see some moderation as the United States imposes stricter conditions on e-commerce deliveries from China. Rising costs and transit times for shipments under $800 may deter American consumers and pose significant challenges to growth on the Asia-North America trade route, the world’s largest.
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