China slowdown feeds cargo contraction

Unlike the record high growth rates in global passenger numbers – up nearly eight per cent for the month of July – airfreight volumes were fl at with respect to year-over-year growth for the month, according to the latest statistics from Airports Council International (ACI).


Unlike the record high growth rates in global passenger numbers – up nearly eight per cent for the month of July – airfreight volumes were fl at with respect to year-over-year growth for the month, according to the latest statistics from Airports Council International (ACI).

A slowdown in key emerging markets such as China, as well as oil producing economies, translated into weakness in other sectors of the economy. Th e strong correlation between changes in air freight volumes and the business cycle coupled with the fact that a high concentration of the world’s major air freight hubs are located in the Asia Pacifi c region has inevitably resulted in a slowdown.

The region’s top five airports experienced a contraction in freight volumes for the month of July with Hong Kong (HKG) dropping by 1.9 per cent. North American airfreight volumes were slightly more mixed with respect to year-on-year growth among the region’s busiest hubs. Th at being said, the net result was fl at growth for the region as a whole.

Whereas Memphis (MEM), a FedEx hub, and Louisville (SDF), a UPS hub, experienced growth of 2.5 per cent and 4.2 per cent respectively, airports that have a larger international component to their freight saw volumes drop.