The International Air Transport Association (IATA), which is the global representative body of the airline industry, has reported that global total air cargo demand continued to grow strongly in April. This was the fifth month in a row in which air cargo demand increased by double digits, in year-on-year terms.
“Air cargo demand started [the second quarter] with a solid 11.1% increase,” highlighted IATA director-general Willie Walsh. “While many economic uncertainties remain, it appears that the roots of air cargo’s strong performance are deepening. In recent months, air cargo demand grew even when the Purchasing Managers Index (PMI) was indicating the potential for contraction. With the PMI now indicating growth, the prospects for continued strong demand are even more robust.”
International air cargo demand increased by 11.6% in April. Total air cargo capacity increased by 7.1%, and international capacity by 10.2%.
Global manufacturing output PMI in April was 51.5, and new export orders PMI was 50.5. Figures above 50 signal growth. April was the first time in two years that new export orders PMI recorded growth. In March (not April), industrial production increased by 1.6% year-on-year, but cross-border trade actually shrank a little, by -0.8%. In April, inflation in the US ran at 3.4%, in the EU at 2.6%, and in Japan at 2.5% -- all relatively stable rates. In China, consumer inflation increased slightly, by 0.2%; in the context of the current state of the Chinese economy, this was an encouraging signal.
The region which saw the greatest increase in total air cargo demand in April was the Asia-Pacific, at 14%, with Europe in second place, with 12.7%. Third was Latin America (11.7%), followed by Africa (10.6%), the Middle East (9.4%) and North America (7%).
For Asia and Europe, IATA also reported on the year-on-year increase in air cargo demand on routes within these continents. For Asia, the figure was 13.2%, and for Europe, 34.4%.
The region that saw the largest year-on-year increase in air cargo capacity in April was Africa, at 18.7%. Then followed Europe, at 10.3%, Latin America (9.8%), the Asia-Pacific (7.8%), the Middle East (5.7%) and North America (4%).