WORLDACD: WORLDWIDE AIR CARGO DEMAND HIT BY LOCKDOWNS IN Q1

Air cargo demand dipped in the first quarter of 2022 as the Russia-Ukraine war and lockdowns in China slowed recovery.

 

The air cargo data provider reported that worldwide year-on-year weight was up 2% in January and February but it dropped 3% for March compared with the same period last year.

 

It said in 2021, the worldwide air cargo business bounced back with a +19% increase, bringing 2021 above 2019, but below the 2018 level.

 

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"With the first 2 months of 2022 being +2% above 2019 and also 2% above 2021, there were high hopes for a gradual increase of air cargo business in 2022, but the world changed with Russia's invasion of the Ukraine. Our database shows a worldwide YoY weight change of -3% for March 2022 compared with March 2021," WorldACD said.

 

It added that the lockdown in China also had a big impact with -13% on outbound air cargo and -23% on inbound air cargo business for China.

 

"However, we should point out that business from China South East (including Guangzhou, Shenzhen and Xiamen) was up +18%, compared with -29% from China East (including Shanghai)," the air cargo data provider said.


WorldACD said a further look at March on a country level shows that for 74 of the 155 countries for which WorldACD publishes individual data, it found negative outbound growth.

 

"That means there were still more countries with positive volume growth," it noted.

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Eastern Europe saw its cargo imports drop 38% year on year in March and exports were 15% down.

 

"From the worldwide region-to-region markets, Europe to/from the Asia Pacific was hit hardest in March, as one would expect given the developments on both ends of this market: weight was down -20% eastbound and -29% westbound.

 

"The Americas did best in March 2022 and first quarter 2022. Both North America and Central & South America have seen high single-digit growth figures, for outbound as well as inbound air cargo volumes in this period."

 

Looking at rates, WorldACD said that yields in the first quarter were 29% up on last year in $ per kg terms.

 

In terms of product categories, live animals, vulnerables/high-tech and perishables contracted, whereas pharma, dangerous goods, express and valuables increased.