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Global air cargo demand surged 18.4% in January, according to latest data from the International Air Transport Association
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IATA said the surge for international operations at 19.8%, is the most substantial annual growth in cargo ton-kilometers since the summer of 2021
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Available cargo ton-kilometers also rose, increasing by 14.6% globally compared to January 2023, driven by the growth in belly capacity
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International belly capacity recorded a notable 25.8% year-on-year increase, reflecting strength in passenger markets
Global air cargo demand surged 18.4% in January, according to latest data from the International Air Transport Association (IATA).
Available cargo ton-kilometers (ACTKs) also saw a significant rise, increasing by 14.6% globally (18.2% for international operations) compared to January 2023, primarily driven by the growth in belly capacity. Notably, international belly capacity recorded a 25.8% year-on-year increase, reflecting strength in passenger markets.
READ: Dec air cargo demand soars 10.8%, 2023 demand down slightly, says IATA
Air cargo growth surpassed both trade and production, with global cross-border trade experiencing a 1% increase in December compared to the previous month.
January also saw improvements in manufacturing output Purchasing Managers’ Index (PMI) at 50.3, indicating expansion, IATA noted. New export orders PMI also saw an increase to 48.8, but remains below the critical 50 threshold, suggesting a continuing decelerating decline in global exports.
Concerns linger over China’s economic indicators, with its Consumer Price Index (CPI) indicating deflation for the fourth consecutive month. In January, CPI reached 3.1% in both the US and the EU, and 2.1% in Japan. China’s negative inflation rate of -0.8% was the lowest since the global financial crisis in 2009.
Willie Walsh, IATA’s director general, in a statement emphasized the positive impact of the booming e-commerce sector on air cargo demand. While recognizing the strong start to the year, Walsh highlighted concerns about uncertainties surrounding China’s economic slowdown, a topic expected to be discussed at the upcoming IATA World Cargo Symposium in Hong Kong.
The world cargo symposium will focus on digitalization, efficiency, and sustainability, Walsh said.
The following is how regional economies performed in January:
- Asia-Pacific: air cargo volumes increased by 24.6%, with strong growth in international CTKs on major trade lanes Africa-Asia (+52.5%), Middle East-Asia (+29.5%) and Europe-Asia (+27.5%).
- North America: carriers saw a 9.3% increase, benefiting from growth on the North America-Asia and North America-Europe trade lanes.
- European carriers experienced a 16.4% rise, with substantial gains in international CTKs within Europe and the Europe-Asia route.
- Middle Eastern carriers had the strongest performance with a 25.9% year-on-year increase, benefiting from growth in the Middle East–Asia and the Middle East–Europe markets.
- Latin American carriers witnessed a 13.4% increase in cargo volumes.
- Africa: air cargo volumes increased by 17.0%, primarily due to strong growth on the Africa-Asia trade lane.
