Click here to follow us on Facebook

ICAO projects accelerating airfreight growth

By Staff Reports on July 17, 2014
tagged icao

World scheduled airfreight traffic, measured in freight tonne kilometers, is expected to grow by 3.7 percent in 2014, according to the International Civil Aviation Organization.

Airfreight traffic grew by 0.4 percent in 2013, and is expected to increase by 4.2 percent in 2015 and 4.4 percent in 2016.

World trade in real terms, measured by exports and imports volumes, will grow by 4.2 percent in 2014, up from the 2.2 percent in 2013, according to IHS Global Insight, a financial analysis company.

The Middle East is expected to remain the fastest growing region in 2014, with an estimated growth rate of 12.1 percent. Growing world trade activities and the strong performance of Middle East carriers in international markets should provide a solid base for the region’s freight traffic growth, ICAO says.

Europe is expected to grow by 2.7 percent in 2014, supported by economic recovery and improvement in trade of the region.

A growth trend in trade volumes of Africa should also continue, with the region’s airfreight traffic estimated to grow by 3.1 percent this year. The Asia-Pacific region, which accounted for almost 40 percent of world freight traffic in 2013, is expected to grow by 3 percent in 2014. With the improvement of the European and U.S. economies, rising demand for Asia-Pacific manufactured goods should support export volume increases and airfreight growth.

Latin America and Caribbean air cargo traffic should continue growing at a rate of 3 percent in 2014. Freight traffic in North America is expected to grow by 1.4 percent in 2014.

Expectations of annual world trade growth rates of 5.3 and 5.1 percent over 2015 and 2016 should support world airfreight traffic growth rates of 4.2 and 4.4 percent, respectively.