WorldACD: The saga of falling volumes continues

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Yields and volumes fell at double digit rates in October as the saga of declining volumes continues, WorldACD reports.

Worldwide air cargo volumes were down 5% while yields in US dollars fell 11% and revenue was 16% lower than in October 2018.

As an origin, Latin America was hit hardest with volumes down 10% and Africa was the only region to remain stable.

All destinations contracted, varying from 8% in Latin America to 1% for the Middle East and South Asia.

WorldACD says the build-up to the end-of-year peak was similar to last year, with October 7% higher than September.

Of the top-20 origin cities, the only growth came from China with Guangzhou up 16% and Shanghai by 3%.

Some smaller airports performed well, with Shenzhen up 58%, Zhengzhou by 19% and Ho Chi Minh City by 7%.

Special cargo continues to perform well, with pharmaceuticals up 7%, high tech by 7%, and fish and seafood by 11%.

Yield for general cargo continued to fall in the six markets, but perishables in particular held up well.