The volume of the global air cargo transport in November 2018 has not changed, showing a zero increase, according to the International Air Transport Association (IATA). The stagnation in the growth of the volumes follows 31 consecutive months of positive dynamics, but slow down recently.
The IATA explains the decline in growth in November with the weakness in global economic activity. Although international e-commerce continues to grow, there are signs of weakness in global economic activity. The export order books in all major exporting nations, apart from the US, contracted and consumer confidence is weaker than in 2018.
“Normally the fourth quarter is a peak season for air cargo, so essentially flat growth in November is a big disappointment. While our outlook is for 3.7% demand growth in 2019, downside risks are mounting. Trade tensions are cause for great concern”, said the CEO of IATA, Alexandre de Juniac. “We need governments to focus on enabling growth through trade, not barricading their borders through punitive tariffs”, added he.
But that headline figure should be put into context: demand was flat, year on year, and 2017 saw a particularly strong year-end. Nevertheless, it was the slowest growth rate since March 2016. Overall, the first 11 months of 2018 saw there was an increase of 3.9%, of air cargo transport.