Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Global Freight Continues to ClimbTuesday, January 13, 2015 > 09:49:15
Global air freight traffic continued to maintain the upward trend in volumes with a year-over-year growth rate of four per cent for the month of November according to the latest data from Airports Council International (ACI).
The overall accumulated volumes for the past 12 months rose by 4.7%. International freight volumes jumped by 5.6%, whereas domestic volumes increased by 2.6%.
The Middle East continued to achieve the highest growth in freight volumes at 12.8% year-over-year for the month of November. Since the commencement of operations at Dubai World Central (DWC), the airport has remained one of the major contributors to overall increases in freight volumes for the region. Air freight volumes at DWC have increased by more than 301.9% on the previous year.
Africa is experiencing some volatility in month-to-month freight volumes. While October freight volumes achieved significant gains over the previous year, November volumes were in decline by 1.7%.
Asia-Pacific posted increases in volumes of 4.7% for the month of November, which is slightly below the twelve-month growth trend of 5.6%. Nevertheless, the region's largest freight hubs continue to report gains. Hong Kong (HKG), Shanghai (PVG) and Incheon (ICN) saw volumes increase by 5.5, 8 and 3.6% respectively for the month.
North America experienced moderate growth of 2.2%. Memphis (MEM), North America's busiest freight airport and FedEx hub, and Louisville (SDF), the UPS hub, were almost flat with respect to year-over-year growth. Anchorage (ANC) posted a gain of 2.4% in freight volumes.
Europe experienced more moderate growth of 3.1% year-over-year. However, results were mixed across airports in the region. Frankfurt (FRA) grew by 2.7% while Paris (CDG) had a decline of 1.8%. Istanbul (IST) achieved one of the highest gains in freight volumes for the region at 14.3% year-over-year.
With ongoing weakness in the Brazilian and Argentinian economies, freight volumes in Latin-America-Caribbean were flat for Novembercompared to the previous year. Nevertheless, the busiest airports of São Paulo (GRU) and Mexico City (MEX) posted gains of 4.2 and 10.7% respectively.
ACI World’s economics director Rafael Echevarne said: “The recent decrease in oil prices and improvements in the American economy are likely to contribute positively to the boosting of world trade volumes in the latter half of 2014 which has had a positive impact on the air freight market.”