IATA: Air cargo demand strengthens despite challenges in July

The International Air Transport Association (IATA) has released data for July 2023 global air cargo markets, showing a continuing trend of recovering growth rates since February. July air cargo demand was tracking just 0.8% below the previous year’s levels. Although demand is now basically flat compared to 2022, this is an improvement on recent months’ performance that is particularly significant given declines in global trade volumes and rising concerns over China’s economy. Global demand, measured in cargo tonne-kilometers (CTKs), tracked at 0.8% below July 2022 levels (-0.4% for international operations). This was a significant improvement over the previous month’s performance