China engine ‘sputtering’ – additional product data soon: July 2017
Overall YoY volume growth was 11.8% worldwide, caused by above average growth from the origins Europe, MESA and Asia Pacific.
September 4, 2017
According to World ACD Market, the stories about recent developments in air cargo run the risk of becoming somewhat monotonous: July was again a month with double digit year-over-year (YoY) growth. As Sonny Bono wrote 50 years ago in his famous, yet rather repetitive song: “the beat goes on, yes, the beat goes on”. It is not too difficult to imagine that quite a lot of people in our industry do not mind the monotony at all, after a number of years in the doldrums.
Underneath the continuing worldwide trend, however, we noticed a movement worthy of mention. But first the overall picture for July.
Overall YoY volume growth was 11.8% worldwide, caused by above average growth from the origins Europe (14.2%), MESA (13.5%) and Asia Pacific (13%), and below average figures for other regions. The southern hemisphere origins of South America and Africa did rather poorly (3.6% resp. 2.6% growth only). MESA (Middle East & South Asia) and Asia Pacific were the fastest growing destination areas (14.9% resp. 13.3% increase). General cargo continued to increase faster (+12.6%) than the other product categories (+9%), with the exception of pharmaceuticals (+17.6%).
In terms of yields, July saw a considerable worldwide YoY-yield increase, +7.8% in USD. The Asia Pacific region contributed heavily to this impressive figure by scoring an even more impressive 13.2% USD-yield increase for business originating in the area. Month-over-month (MoM), however, worldwide yields did not increase: measured in USD they remained stable, in EUR they lost 2,3%. Yield-wise, North America was a good destination to send goods to: whilst incoming volume remained the same as in June, USD-yields for business to the region were slightly better MoM, but increased by 15.6% YoY.