Air cargo traffic from and to North America increased respectively +3 percent and +11 percent Year-to-Date (YtD) August 2024 compared YtD August 2023. In terms of outbound tonnages, however, all other origin regions have seen a stronger year-on-year (YoY) growth. Ranging from +19 percent from the Middle East and South Asia to +8 percent from Europe.
For inbound, tonnages to North America increased +11 percent, similar to inbound tonnages to Central and South America, as well as Africa. The Middle East and South Asia saw an increase of inbound tonnages of +18 percent, whilst Asia Pacific ranked last in terms of relative YoY growth, inbound tonnages increased +8 percent YtD Aug 2024 vs. YtD Aug 2023.
The majority of outbound air cargo from and inbound air cargo tonnages to North America is handled in a relatively small number of origin cities, which is shown in the below ranking of origin cities and destinations. Miami ranks first in terms of total inbound tonnages, whilst Chicago ranks first in terms of total outbound tonnages. Inbound and outbound combined, Miami was the largest origin city in terms of air cargo traffic YtD August 2024.
Besides, eight out of ten top air cargo origins and destinations in North America are located in the United States. The only cities outside of the US were Mexico City and Toronto, ranking sixth and eighth because of their relatively high ranks in terms of inbound tonnages compared to, for example, San Francisco (ranked 9th) and Houston (ranked 10th).
For air cargo inbound to all destinations, rates have continued to increase YoY in the first eight months of 2024 compared to the first eight months of 2023. The average rate for inbound air cargo traffic to the North American destination, Mexico, Canada, and the US, is in fact, already higher compared to rates for outbound air cargo traffic.
In terms of outbound, rates for tonnages from Mexico decreased -17 percent YtD Aug 2024 compared to YtD Aug 2023. Outbound rates for air cargo tonnages leaving the US and Canada decreased -15 percent and -10 percent respectively.
The increased outbound from North America is accounted for by a +3 percent increase of general cargo YtD Aug 2024, as well as a +3 percent increase of all special product categories combined. However, most special products were shipped by air from North America considerably less in the first eight months of 2024 compared to the same period in 2023. The only special product categories that did account for the overall increase were Vulnerables/High-tech (+21 percent) and Fish and Seafood (+4 percent).
