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IATA reports ‘bottoming out’ of air freight volumes

"The current volatility of stock markets shows how much the health of the global economy remains on a knife-edge."

Thursday 4th February 2016

Data from (IATA) relating to global air freight markets has revealed that air cargo volumes were down 1.2 per cent in November 2015, compared to the corresponding month in 2014.

However, compared to October total cargo volumes expanded and were higher than the low point in August. IATA is of the opinion that this indicates that the decline in cargo demand may be bottoming out.
With the exception of the Middle East, the negative year-on-year comparisons occurred across all regions. Of the major markets that together comprise more than 80% of total trade, Europe was down 2.0 per cent, North America by 3.2 per cent, and Asia-Pacific by 1.5 per cent.

The comparative weakness in these regions was driven largely because the performance in November 2014 was very strong. Latin American and African markets also fell, by 6.4 per cent and 6.0 per cent respectively. Meanwhile, the Middle East region posted 5.4 per cent growth.

Tony Tyler, IATA’s Director General and CEO, commented: "The freight performance in November was a mixed bag. Although the headline growth rate fell again, and the global economic outlook remains fragile, it appears that parts of Asia-Pacific are growing again and globally, export orders are looking better.

“In fact, the downward trend in FTK volumes appears to be bottoming out. But there is a great deal of uncertainty. The current volatility of stock markets shows how much the health of the global economy – upon which air cargo depends – remains on a knife-edge."

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