With the short-term high from COVID-related commodities waning, U.S. and European airfreight imports are showing their true colors. The United States is outperforming Europe, and we expect this to continue now that stricter lockdowns are being rolled out across the continent.
The year so far
For the first nine months of 2020, U.S. air import tonnes are down 4%, or 10% net of COVID-related import volumes, and export tonnage is down 16%. September 2020 volumes are almost at 2019 levels, while exports are down 11%.
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