Asia Pacific continues to lead global trade growth, maintaining resilient momentum despite persistent disruptions and market volatility, according to the latest DHL Air Freight Market Update (February 2026) and Ocean Freight Market Update (March 2026).

Even as headlines tilt toward disruption, "Asia remains the world's most reliable engine of trade — and that, at least, is something worth smiling about," said Niki Frank, CEO, DHL Global Forwarding Asia Pacific.

According to DHL's Global Connectedness Report 2026 — the most comprehensive analysis of globalization covering about 180 countries and territories — Singapore ranks as the world's most globally connected country. The three highest‑ranked middle‑income economies on the DHL Global Connectedness Index are also in Southeast Asia: Malaysia, Thailand, and Vietnam.

This strength is mirrored in freight markets, where ocean demand remains solid and air cargo continues to benefit from tech‑driven momentum.

Global ocean demand grew a robust four percent in 2025, led overwhelmingly by exports out of Asia. Air cargo demand rose 8% year‑on‑year in January 2026, with Asia Pacific alone accounting for roughly half of global volume growth.

However, these promising indicators coexist with significant geopolitical shocks. The DHL report noted that the uncertain situation at the Strait of Hormuz, ongoing Suez Canal diversions, and widespread Middle East airspace restrictions are reshaping networks, grounding or rerouting thousands of flights, and creating ripple effects across major Asia‑origin trade lanes.

Shifting tariff environments, annual Lunar New Year disruptions, and severe Northern Hemisphere winter weather have further contributed to an operating landscape defined less by peaks and troughs than by "persistent unpredictability."

On the ocean side, nominal global container capacity is up 3% year‑on‑year. Yet effective capacity is estimated to be down by around 16% due to Asia‑linked disruptions, port congestion, and continued Cape of Good Hope diversions.

Asia's export strength continues to shape global flows, with particularly strong year‑over‑year gains on lanes from Asia to Europe, MENAT, Latin America, Africa, and Oceania.

Meanwhile, DHL noted that while the Supreme Court ruled that the IEEPA tariffs were unconstitutional and revoked a wide range of duties, a new tariff valid for 150 days has been introduced.

But Bjoern Schoon, senior vice president, Ocean Freight, DHL Global Forwarding Asia Pacific, said "Tariffs, however, simply shift global trade instead of stopping it."

In air freight, global capacity grew about five percent year‑on‑year in February 2026, driven largely by passenger bellyhold recovery, especially in Europe. But growth remains uneven. Flight bans and diversions across the Middle East have created global knock‑on effects, tightening capacity precisely where transit connectivity is most critical.

Demand remains structurally firm. The 8% year‑on‑year increase in January 2026 — including a 12% rise in Asia Pacific, which contributed roughly half of global volume growth — underscores the region’s central role in airfreight.

Citing IATA forecasts, DHL said global air cargo demand growth of around three percent for 2026, with Asia Pacific leading the upswing even as other regions see uneven performance.

"Asia's maturation as a diversified production ecosystem is clearly visible: when one vertical softens, another accelerates," said Fabio Weiss, senior vice president, Air Freight, DHL Global Forwarding Asia Pacific.

Rate dynamics reflect this volatility. Ocean freight rates across Asia‑origin lanes remain significantly elevated, while air freight rates vary sharply by region. Severe winter disruptions, strikes, tighter environmental policies, and associated cost pressures have pushed ex‑Europe air rates up 12%, while strong tech and e‑commerce volumes — combined with weather‑related and geopolitical constraints — have contributed to a 7% increase for ex‑Asia Pacific.

Volatility is likely to remain the defining feature of the months ahead.

DHL noted that with a return to the Suez Canal off the table for now and Middle East tensions ongoing, supply chains face continued uncertainty.

Still, Asia's role as the world's main growth driver is expected to endure, supported by high‑value manufacturing, electronics, and cross‑border ecommerce.

"In a landscape where neither mode offers complete predictability, integrated planning across ocean and air has become an essential resilience tool for Asia‑based supply chains," Frank said.

The DHL Air Freight and Ocean Freight Market Update Reports are monthly publications by DHL Global Forwarding that track and analyze the latest developments in global air and ocean freight markets.