Airports see lower pace for international cargo growth in February

Airports worldwide recorded a lower growth rate for international cargo in February 2018, although continued economic growth and global trade led to an increase overall of 6.3% in total freight volumes.
Airports Council International (ACI) World, in its monthly statistical review, said: "The change of pace was mostly due to a lower growth rate for international freight, which reached 6.4% during the period, three percentage points lower than its 12-month rolling figure of 9.4%. Domestic freight increased by 5.9% during the month, pushing its rolling 12-months to 4.3%."
Of the major markets, North America led the way with 8.2% year-over-year, bringing its 12-month rolling numbers to 7.1%. The US’ airfreight market has shown "remarkable resilience despite increasing tensions related to trade", added ACI.
Angela Gittens, director general of ACI World, said: "The global freight market showed remarkable resilience in the face of challenges including the prospect of a trade war between the US and other major economies which threaten to erode the strength of this continued growth."
Europe and Asia-Pacific posted "moderate growth" in freight volumes in February. Europe stood at 6% on a year-on-year basis, down from 8.1% in January.
Turkey’s airfreight market continued its recovery, reaching 27.3% year-over-year, pushing its 12-month rolling figures to 18.7%.
Belgium’s airfreight market, boosted by the success of Liège Airport (LGG) as a cargo hub, posted 8.0%.
Asia-Pacific’s airfreight market grew by 4.7% during the period, down from a growth rate of 8.3% in January. Despite a momentary slowdown, the region’s 12-months rolling figure was 8.2%.
Commented ACI: "With global macroeconomic outlooks remaining positive for 2018, the region’s airfreight market may resist the downward trends caused by trade policy pressures. The Philippines and Indonesia posted high numbers in February, reaching 21.6% and 17.9% respectively. India and Thailand followed with 9.7% and 8.3%.
"Like its passenger market, India’s freight market, with a 12-month rolling figure of 14.2%, is currently recording significant growth.
"Although its two major cargo hubs, New Delhi and Mumbai, have been driving a major part of this, smaller airports, such as Bangalore and Chennai, have also provided a substantial contribution, growing by 14.1% and 12.3% respectively in February."
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