The outlook for airfreight remains negative, with volumes declining by 4.2% in September, according to Airports Council International (ACI).
Year-to-date airfreight was down 3.1% and with three months left, ACI says it is unlikely global trade will grow.
International volumes were down 4.2% in September and domestic airfreight dropped by 4%.
International airfreight was also the biggest loser on a year-to-date basis, down 4.7% while the domestic market was still up 0.4%.
Angela Gittens, director general of ACI World says: “The freight market continued to struggle with the international and domestic volumes posting comparable declines. The domestic freight market, which has held up well in the face of global uncertainty in 2019, could end the year with an overall decline with the North American market, which has been the main driver of the domestic segment, having finally buckled under a slowing global economy.”
Europe fell the least in September, down only 2.4%, with the year-to-date fall of 2.9% caused almost entirely by the region’s international market.
North America was down 4.8% and with Chinese trade discussions still underway and diplomatic relations with several international partners under strain, the chances of a full recovery remain small.
Asia Pacific fell 3.9% with the region suffer the brunt of trade wars due to disruption of supply chains, and the ongoing political crisis in Hong Kong.
Elsewhere, Latin America-Caribbean was down 5.5%, Africa by 6.4% and the Middle East by 6.7%.