WorldACD’s analysis for January bolsters the emerging theme of year-over-year drops in air cargo traffic – with the month showing a 2 percent decline in volume, y-o-y, as well as a decrease in overall yield, measured in U.S. dollars, of 2.5 percent. Breaking the picture down to specific channels, however, there are each some observable positive trends emerging in international trade.
Europe and North American export volumes decreased slightly above the international average, each around 4 percent. Germany, however, was hit the hardest, with a y-o-y drop in export volumes of 8.7 percent, and a whopping 14.5 percent drop in German cargo headed to the Asia-Pacific region.
Total Asia-Pacific imports decreased about 6 percent. The decrease was slightly more dramatic when observed in terms of imports to the region, specifically from North America, which dropped by 8 percent.
Looking at China, the country’s export volumes grew by about 5 percent, y-o-y, but Chinese import volumes fell by more than 10 percent.
Interestingly, WorldACD noted that “all individual countries in Western Europe” saw a y-o-y drop averaging at 5.5 percent in total, but the United Kingdom’s exports actually increased by 5 percent, suggesting a pre-Brexit stocking period.
Some African and Latin American countries saw continued y-o-y volume increases in exports during the month, totaling averages of about 3.8 and 0.6 percent, respectively.
Looking at specific industries allows for some positivity in certain industries. All categories of product saw y-o-y improvements, except for general cargo, valuables and dangerous goods. Perishables and high-tech volumes grew by 6 and 4 percent, respectively, and pharma increased by 5 percent.
Those interested in learning more about predictions for air traffic trends in 2019 are invited to join us at Cargo Facts Asia 2019, to be held 15-17 April at the Langham Shanghai. For more information, or to register, visit www.cargofactsasia.com.