Friday, June 14, 2024
Growth slows in Asia Pacific and the Middle East

Growth slows in Asia Pacific and the Middle East

Airfreight volumes at airports across Asia Pacific and the Middle East saw a slight increase in May, according to the latest figures by the Airports Council International (ACI) Asia Pacific.

The association says Asia Pacific saw a marginal year on year (YOY) increase of 1.6 per cent while the Middle East grew YOY by 4.4 per cent from last year.

ACI Asia Pacific says: “Airfreight in both regions continued to be impacted by weak economic growth in Europe and slowdown across Asian export markets.”

The slowdown in trade activities and airfreight traffic may put downward pressures on business travels in the coming months, ACI Asia Pacific also explains.

Among the major cargo airports in the region, Indira Gandhi International Airport in Delhi led Asia Pacific with the highest YOY growth in May of 16 per cent, and Hamad International Airport in Doha led the Middle East with a YOY uplift of 14.7 per cent.

Hong Kong International Airport saw a 0.3 per cent YOY fall in the month, Shanghai Pudong International Airport saw a 5.6 per cent rise and Dubai International Airport and Al Maktoum International Airport at Dubai World Central combined, saw a 4.9 per cent uplift.

ACI Asia Pacific says May’s growth was down on April, when Asia Pacific grew YOY by 2.6 per cent and the Middle East saw significant YOY growth of 14.5 per cent. In the first quarter (Q1) of this year, airports in Asia Pacific saw a 4.7 per cent YOY rise in cargo volumes. This was down on Middle East airports, which saw YOY growth of 8.5 per cent for Q1.

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James Graham

James Graham is an award-winning transport media journalist with a long background in the commercial freight sector, including commercial aviation and the aviation supply chain. He was the initial Air Cargo Week journalist and retuned later for a stint as editor. He continues his association as editor of the monthly supplements. He has reported for the newspaper from global locations as well as the UK.

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