Airfreight market drops for the eighth consecutive month

Airfreight market drops for the eighth consecutive month

Demand for air cargo services declined for the eighth consecutive month in June due to a trade dispute between the United States and China, the International Air Transport Association (IATA) reported on Wednesday.

Global air cargo volumes fell 4.8% in June from June, wiping out any hope of a slight improvement, the Etihad office in Geneva said.

In addition to the slow growth in world trade, air cargo activities have been affected by the latest tariff increases that came into effect at the beginning of the month as part of the dispute between the two largest economies in the world.

"International trade continues to suffer from escalating trade tensions, especially between the US and China.Nobody wins a trade war," said Alexander de Juniak, chief executive of the Association of international air transport, in a statement.

The Middle East and Asia Pacific regions recorded the largest decrease in air freight volumes in June, at 7% and 4.5%, respectively.

The North American market contracted by 4.6%, while Europe fell by 3.6%.

Air freight in Latin America declined by only 1%, while Africa was the only area in growth, up 3.8%.