Courtney Agencies Ltd. provides a weekly industry news update to its clients.
Please click here to receive this update by email.
February 2, 2017
Global air cargo volumes grew by 3.8% in 2016
According to data from the International Air Transport Association (IATA), global air cargo volumes grew by 3.8% in 2016 compared to 2015. This was nearly double the industry's average growth rate of 2.0% over the last five years.
IATA notes that after a weak start to 2016, global freight volumes recovered in the second half of the year. A strong peak season, an increase in the shipment of silicon materials and a turnaround in new export orders contributed to the later uptick in demand.
All regions, with the exception of Latin America, experienced positive freight growth in 2016. Carriers in Europe, with a 7.6% year-on-year increase, accounted for almost half of the total annual increase in demand. Asia-Pacific carriers saw demand in freight volumes grow 2.1% in 2016 compared to 2015. North American airlines saw their freight demand increase by 2.0% in 2016, up from 1.3% the previous year.
"In terms of demand, 2016 was a good year for air cargo. That was boosted by solid year-end performance," said Alexandre de Juniac, IATA's Director General and CEO. "Looking ahead, strong export orders are good news. But there are headwinds. The most significant is stagnant world trade which also faces the risk of protectionist measures. Governments must not forget that trade is a powerful tool for growth and prosperity."
"The air cargo industry must also improve its competitiveness. We know that the way forward is defined by digital processes which will drive efficiency and improve customer satisfaction. We must use the momentum of renewed demand growth to drive the important innovations of the e-cargo vision," said de Juniac.
|Copyright 2006. All Rights Reserved.|