"Alarming" decline in international air cargo movement

On 29 January 2009 the International Air Transport Association (IATA) reported that December 2008 saw a massive 22.6% drop in air cargo movement compared with the same period in 2007.

The regional numbers indicate that the sharp drop is global. Although the drop in the Middle East and Africa was smaller, the hardest hit region was Asia/Pacific with a 26% drop.

The Economics team at IATA produces some very good data and commentary on what is currently impacting the global aviation industry. It makes for sobering reading. See, for example:

• Cargo Market Analysis
  
• Airlines Financial Health Monitor
  
• Financial Forecast
  
• Premium Traffic Monitor
  

Note that IATA estimates that 35% of international trade by value moves by air. The percentage for New Zealand is significantly lower, partly a consequence of our geographic isolation and export product mix.