Hong Kong’s September slump

AIRFREIGHT handled by Hong Kong International Airport (HKIA) fell to 325,000 metric tonnes last month, down 6.1 per cent.
Hong Kong’s two major export markets North America and Europe are drying up.
In the first nine months, HKIA moved 2.9 million tonnes of cargo, largely items such as Apple’s iPhones and luxury consumer goods. This was down 3.9 per cent from the same period last year.
China’s exports however rose 17.1 per cent in September from a year earlier, the lowest since February.
Global airfreight markets shrunk 3.8 per cent in August, double the rate of July’s decline.

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