IATA: Africa and Europe record airfreight growth, other regions decline in Nov-2019

IATA reported (08-Jan-2020) Asia Pacific, Latin America and the Middle East "suffered sharp declines" in airfreight volume growth in Nov-2019. North America experienced a more moderate decline, while Africa and Europe were the only regions to record positive growth. Details include:

• Africa: Recorded the largest growth of any region, with a 19.8% year-on-year increase in demand for Nov-2019. IATA said strong trade and investment links with Asia contributed to the positive performance;
• Asia Pacific: The 3.7% drop in demand was the largest of any region for Nov-2019. IATA stated the US-China trade dispute "has significantly affected the region", with Asia-North America demand down 6.5% for Oct-2019. However, the association noted positive developments in the thawing of US-China trade relations and robust economic growth in key regional economies;
• Europe: Better than expected economic activity in some of the region's large economies in 3Q2019 helped support demand;
• Latin America: Social and economic headwinds in the region's key economies have impacted air cargo performance;
• Middle East: Seasonally adjusted freight volumes have continued "a modest upward trend" against a backdrop of operational and geopolitical challenges facing some of the region's key airlines. IATA noted: "Escalated geopolitical tensions threaten the regions' carriers in the period ahead";
• North America: Slower growth in the US economy and trade tensions with China have affected demand. IATA stated: "Positive progress in trade negotiations between both countries highlighted by the 'phase one' deal is a positive development". [more - original PR] [more - original PR - II]