For the first time in two years, worldwide air cargo experienced no growth year-on-year (YoY) in June, as year-to-date growth percentage continues to decrease, according to the latest data from WorldACD.

Air cargo’s worldwide volume growth “stagnated as the YoY increase for the month was a mere 0.4%,” said WorldACD. Although the first half of 2018 brought an overall year-on-year growth of 3.7%, this year-to-date growth has slowly but surely decreased for a number of months now.

While saying that results for June may not be an indicator for the rest of the year, the air cargo research company noted that freight from Asia-Pacific fell, as did that of three other origin regions, even as the Americas continued to post positive growth in contrast.

Business from Asia-Pacific to the other regions fell 0.1% year-on-year in June 2018. Air cargo from the origins Africa, Europe, and the Middle East also contracted year-on-year.

“The Americas, however, again bucked the worldwide trend: the USA enjoys high economic growth, whilst South America has been in ‘catching up’ mode for a number of months already,” said WorldACD.

The worldwide yield continued to be much higher than a year ago, standing at US$1.90 in June 2018, almost equal to May 2018, but still 13% higher than in June 2017. Measured in euros, the yield increased by 2% month-over-month, while the year-over-year increase was 9%.

WorldACD also took a look at the June figures for the markets it said were the most “threatened” by the trade measures announced by U.S. President Donald Trump.

Exports by air from China to the U.S. dipped considerably in June. Although this market had been sub-par for the full first half year of 2018 already at -2.9% year-on-year, “the June figure of -5.9% YoY could be indicative of a worsening climate between the two economic powerhouses,” said the report.

Air freight from China to Europe was also negative in June (-2.9% year-on-year), but U.S.-to-Europe showed growth of 3.7% year-on-year, well above the worldwide average, although much lower than in the earlier months of 2018 when it topped 8%. With a year-on-year growth of 3%, U.S. exports by air to China grew more than the overall air cargo ex-USA.

Photo: Eric Salard from Paris, France

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