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29, September 2021: The International Air Transport Association (IATA) released August 2021 data for global air cargo markets showing that demand continued its strong growth trend but pressure on capacity is rising. 
 
As comparisons between 2021 and 2020 monthly results are distorted by the extraordinary impact of COVID-19, unless otherwise noted, all comparisons below are to August 2019 which followed a normal demand pattern.
 
• Global demand, measured in cargo tonne-kilometers (CTKs*), was up 7.7% compared to August 2019 (8.6% for international operations). Overall growth remains strong compared to the long-term average growth trend of around 4.7%.
• The pace of growth slowed slightly compared to July, which saw demand increase 8.8% (against pre-COVID-19 levels).
• Cargo capacity recovery paused in August, down 12.2% compared to August 2019 ( 13.2% for international operations). In month-on-month terms, capacity fell by 1.6% – the largest drop since January 2021. 
Economic conditions continue to support air cargo growth but are slightly weaker than in the previous months indicating that global manufacturing growth has peaked:
• The August manufacturing output component of the Purchasing Managers Indices (PMIs) was 51.9, indicating a short-term boost to demand if those orders are shipped by air. This was a decline from 54.4 in July. 
• The August new export orders component of the PMIs was favorable for air cargo, despite being less supportive than in the previous months. Expansion continued at the global level, however, there was contraction in emerging economies. 
• The inventory-to-sales ratio remains low ahead of the peak year-end retail season. This is positive for air cargo, however further capacity constraints put this at risk. 
 
“Air cargo demand had another strong month in August, up 7.7% compared to pre-COVID levels. Many of the economic indicators point to a strong year-end peak season. With international travel still severely depressed, there are fewer passenger planes offering belly capacity for cargo. And supply chain bottlenecks could intensify as businesses continue to ramp up production,” said Willie Walsh, IATA's Director General.  
 

Air cargo market detail - August 2021

 

 

 

 

 

 

World

 

August 2021 (% ch vs the same month in 2019)

 

share1

 

CTK

ACTK

CLF (%-pt)2

CLF (level)3

TOTAL MARKET

100.0%

 

7.7%

-12.2%

10.0%

54.2%

   Africa

2.0%

 

32.4%

-3.8%

11.8%

43.0%

   Asia Pacific

32.6%

 

-2.1%

-28.1%

18.5%

69.8%

   Europe

22.3%

 

6.3%

-12.1%

9.9%

57.5%

   Latin America

2.4%

 

-13.2%

-20.0%

3.2%

40.4%

   Middle East

13.0%

 

15.5%

-5.2%

9.4%

52.9%

   North America

27.8%

 

19.3%

0.7%

6.8%

43.7%



Posted by : GoDubai Editorial Team
Viewed 4125 times
Posted on : Wednesday, September 29, 2021  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
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