Singapore Changi Airport recorded a cargo volume slowdown last year, reflecting an industry-wide downturn driven by global economic uncertainties and inflationary pressures.

Airfreight throughput at Singapore Changi Airport — one of the world's busiest air cargo hubs — totalled 1.74 million tonnes in 2023, down 6.1% year-on-year against a "volatile global economic environment."

Last year's cargo throughput at Changi Airport was also 13.6% lower than the full-year figures in 2019, which was at 2.01 million tonnes.

"On the cargo front, cargo flows dipped slightly compared to 2022 against the backdrop of global economic uncertainty and inflationary pressures," the Singapore gateway said in a statement.

It added that Changi's top five air cargo markets for the year were China, Australia, Hong Kong, the United States of America and India.

Enhancing connectivity

In 2023, the airport welcomed three new freighter services in December 2023 from MSC Air Cargo (Operated by Atlas Air), Sichuan Airlines and Myanmar National Airlines.

On the passenger side, the airport said handled 58.9 million passenger movements in 2023, representing 86% of the traffic recorded in 2019.

Aircraft movements, which include landings and take-offs, totalled 328,000, as compared to 382,000 in 2019.

"We step into 2024 hopeful of making a full recovery back to Changi Airport's pre-COVID connectivity and traffic levels," said Ching Kiat, Changi Airport Group's Executive Vice President for Air Hub and Cargo Development.

As of January 2024, 93 airlines operate over 6,700 weekly scheduled flights at Changi Airport, connecting Singapore to 154 cities in 49 countries and territories worldwide.