IATA: Double-digit growth in cargo demand continues in July

Date Added: 30 August 2024

IATA: Double-digit growth in cargo demand continues in July

Davies Turner, which has a strong presence in the expedited international airfreight business, through our subsidiary Davies Turner Air Cargo, notes that IATA latest data shows that global air cargo markets continued to soar in July with the latest IATA statistics showing a year-on-year increase of 13.6% on the back of issues on the ocean and the continued e-commerce boom.

The airline association said that cargo tonne kms had now registered a double-digit percentage increase for eight months in a row, with overall levels reaching heights not see since the Covid-fuelled surge of 2021.

Meanwhile, capacity in July increased at the lower level of 8.3% on last year helping to push load factors up by 2.1 percentage points to 44.4%.

IATA said the capacity increase was led by a 12.8% improvement in international bellyhold capacity and a 6.9% growth in international freighter capacity.

The association’s director general Willie Walsh said: “Air cargo demand hit record highs year-to-date in July with strong growth across all regions. The air cargo business continues to benefit from growth in global trade, booming e-commerce and capacity constraints on maritime shipping.

“With the peak season still to come, it is shaping up to be a very strong year for air cargo. And airlines have proven adept at navigating political and economic uncertainties to flexibly meet emerging demand trends.”

Looking at market indicators, IATA said the Purchasing Managers Index (PMIs) for global manufacturing output indicated expansion at 50.2, but the export orders index stood at 49.4.

“Inflation remained relatively stable in July in the US, Japan, and the EU, with inflation rates of 2.9%, 2.8%, and 2.8%, respectively,” IATA said. “Meanwhile, China’s inflation rate increased 0.3 percentage points to 0.6%, the highest level in five months.”

For more information about our global air freight forwarding and logistics services, please contact aircargo@daviesturner.co.uk or visit https://www.daviesturner.com/air-freight

Would you like more information?

I would like to opt-in to receive marketing communications from Davies Turner via:

Track your consignment online to get the latest status

Our core products – in air, ocean, overland forwarding and customs services, as well as in warehouse management and distribution

Click here to track your package

Back To Top

An image of the Top track logo An image of the ROSPA Gold award logo An image of the Rospa gold 22 logo An image of the 90001 logo An image of the 14001 logo An image of the EcoVadis logo An image of the investor in people logo An image of the system alliance europe logo An image of the iata logo An image of the aeo logo An image of the bifa logo An image of the ukwa logo