Gulf air cargo up 9% YoY, Europe exports rise 5%

Air cargo volumes from the Middle East slowed in week 7 (9–15 February), as seasonal factors began to weigh on demand. According to the latest data from WorldACD Market Data, tonnage from the Middle East & South Asia (MESA) region fell 3% week on week, even as global volumes dropped 7% after weeks of steady growth. The slowdown comes as the Lunar New Year holiday began on 17 February, impacting trade flows.

Despite the weekly dip, Middle East volumes were still up 9% compared to the same week last year. Traffic to Europe rose 5% week on week, supported mainly by higher exports from Dubai (+17%) and Sri Lanka (+11%). Year on year, volumes from the region to Europe increased 13%, with Dubai showing strong double-digit growth.

However, shipments from MESA to the US fell 8% compared to the previous week. Bangladesh saw a sharp 36% drop, while Sri Lanka declined 24%. Even so, exports to the US were still 10% higher than last year.

On pricing, average global airfreight rates rose 2% week on week to $2.45 per kilo. But rates from MESA were down 10% year on year, showing pressure in the market despite higher capacity.