The International Air Transport Association (IATA) has released data for global air cargo markets showing that demand continued its strong growth trend.
Global demand, measured in cargo tonne-kilometers (CTKs), was up 8.6% compared to July 2019.
Overall growth remained strong compared to the long-term average growth trend of around 4.7%.
The pace of growth slowed slightly compared to June which saw demand increase 9.2%, against pre-COVID-19 levels.
Capacity has continued to recover, but it was still 10.3% down compared to July 2019.
Economic conditions continued to support air cargo growth. The July export orders component of the manufacturing Purchasing Managers Indices (PMIs) was 52.7%, indicating a short-term boost to demand if those orders were shipped by air.
The inventory-to-sales ratio remained low ahead of the peak year-end retail season.
“July was another solid month for global air cargo demand. Economic conditions indicate that the strong growth trend will continue into the peak year-end demand period. The Delta variant of COVID-19 could bring some risks. If supply chains and production lines are disrupted, there is potential for a knock-on effect for air cargo shipments,” said Wille Walsh, IATA’s director general.
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