Aircraft and transport. Cargo demand continues negative 2019 trend
Due to "Brexit"-related trade uncertainty in Europe and trade tensions between the US and China
The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), fell 4.7% in April 2019, compared to the same period the year before. This continued the negative trend in year-on-year demand that began in January.
Freight capacity, measured in available freight tonne kilometers (AFTKs), grew by 2.6% year-on-year in April 2019. Capacity growth has now outpaced that of demand for the last 12 months. Air cargo volumes have been volatile in 2019, due to the timing of Chinese New Year and Easter, but the trend is clearly downwards, with volumes around 3% below the August 2018 peak.
"Brexit"-related trade uncertainty in Europe and trade tensions between the US and China, have contributed to declining new export orders. In month-on-month terms, export orders have increased only three times in the past 15 months and the global measure has been indicating negative export demand since September. The continued weakness is likely to lead to further subdued annual FTK growth in coming months.
Asia-Pacific, Europe and Middle East suffered sharp declines, while Africa, Latin America and North America experienced modest increases in growth in April 2019.
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