Global air cargo demand in May continued to show strong year-on-year (y-o-y) growth, the world representative body for the airline industry, the International Air Transport Association (IATA), has reported. May was the sixth month in a row in which air cargo demand registered double-digit y-o-y growth.

In May, total demand increased by 14.7% y-o-y, while international demand rose by 15.5%. Total air cargo capacity grew by 6.7%, and international capacity by 10.2%. Africa was the region which recorded the biggest increase, jumping by 18.4%. Demand on the Africa-Asia routes soared by 40.6%. African air cargo capacity increased by 21.4%, also the highest increase among IATA’s regions.

May also saw the global manufacturing output Purchasing Managers Index (PMI) reach 52.6, and the new export orders PMI hit 50.4. Any figure above 50 indicates growth. Industrial production in April (these figures lagged) rose 0.5%, month-on-month (m-o-m). Global cross-border trade, again in April, increased by 1.5%, also m-o-m.

Regarding inflation in May, in the EU this fell to 2.7%, and in Japan it declined to 2.8%, but in the US it rose to 3.3%. In China, inflation stayed just above zero, at only 0.3%, which was a reflection of weak domestic demand, which, in turn, was the result of slow income growth, high unemployment, and a real estate sector crisis. These trends have been persistent in China since during last year.

“Air cargo demand moved sharply upwards in May across all regions,” highlighted IATA director-general Willie Walsh. “The sector benefitted from trade growth, booming e-commerce and capacity constraints on maritime shipping. The outlook remains largely positive with purchasing managers showing expectations for future growth. Some dampening, however, could come as the US imposes stricter conditions on e-commerce deliveries from China. Increased costs and transit times for shipments under $800 may deter US consumers and pose significant challenges for growth on the Asia-North America trade lane – the world’s biggest.”

Regarding the other regions that IATA divided the world into, second place, in terms of y-o-y air cargo growth in May, was taken by the Asia-Pacific, with a jump of 17.8%, followed by Europe, up 17.2%. Then came the Middle East (15.3%), Latin America (12.7%) and North America (8.7%). In terms of capacity, the second biggest y-o-y increase in May was recorded by Europe (11.9%), followed by the Asia-Pacific (8.4%), Latin America (8%), the Middle East (2.7%) and North America (2.5%).