Incheon joins the Asian tonnage growth party

Incheon International Airport in South Korea saw international cargo grow year-on-year (YOY) by 7.7 per cent in May to 238,000 tonnes, continuing the strong growth trend it posted in the first quarter.

The gateway says the gradual recovery in the country’s exports in core products such as semiconductors and display manufacturing equipment was one reason behind the growth.

In May, total imports were 128,455 tonnes, up YOY by 12.9 per cent on the 105,340 tonnes in the same month last year. Exports reached 125,041 tonnes, up 12.9 per cent on the 117,048 tonnes, in May 2016.

In terms of international cargo regionally of the 238,000 tonnes, the Americas was up YOY by 12.7 per cent, Europe by 5.4 per cent and Southeast Asia by 13.7 per cent.

Japan also performed well after a poor year in 2016, and there was robust YOY growth in volumes of 9.6 per cent in May.

China was down YOY by 3.8 per cent with the fall due to a decrease in exports amid the “stricter attitude adopted by Chinese customs authorities supposedly in retaliation of the deployment of THAAD in South Korea”.