Middle East Region Air Cargo Volumes See Slight Dip in July
Middle Eastern carriers posted an 11.3% rise in international cargo volumes in July 2021 versus July 2019 according to the International Air Transport Association (IATA) data released for July 2021.
This was a decrease compared to the previous month (15.8%). Some routes, however, are still posting strong performance, for example on the large Middle East–Asia trade lanes.
Meanwhile, global demand, measured in cargo tonne-kilometers (CTKs*), was up 8.6% compared to July 2019. Overall growth remains 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 continues to recover but is still 10.3% down compared to July 2019.
Economic conditions continue to support air cargo growth. July export orders component of the manufacturing Purchasing Managers Indices (PMIs) was 52.7%, indicating a short-term boost to demand if those orders are shipped by air.
The inventory-to-sales ratio remains low ahead of the peak year-end retail season.
Wille Walsh, IATA’s Director General said: “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.”