The International Air Transport Association (IATA) announced that international air freight demand fell by 9.6% in August 2009, compared to August 2008. Market watchers were quick to note that this year-on-year decline was still an improvement compared to the 11.3% drop in July.
Compared to the low point of December 2008, seasonally adjusted freight demand has improved by 12%. Unfortunately, international air traffic is still 16% below April 2008 levels when the fall in demand began.
Freightquote.com books a substantial amount of international air freight through its online freight management system. Just as the IATA reported, Freightquote saw all regions experience improved demand in August compared to July. The strongest markets for international air freight appear to be Latin America and the Middle East. Both regions reported growth between 3.9% and 3.0%.
Asia Pacific carriers, representing 44% of the global freight market, saw a mild improvement from July to August. Europe also experienced similar increases. The region with the most impressive month-to-month improvement was Africa but there is ultimately little effect on the international market due to Africa’s small market share.
These numbers are enough to support optimistic industry projections for 2010. Freightquote.com is excited for the expected growth in 2010. IATA’s industry outlook anticipates average international freight growth of 5.5%, compared to an expected full-year decline in 2009 of 14.5%.
Despite the 2009 decline, Freightquote has succeeded in maintaining a stable volume of shipments as it customers press harder for the best international air freight rates and efficient freight management processes. Freightquote is able to offer both – the best rates as a result of long-standing relationships with a huge number of reputable carriers; the most efficient online freight management processes as a result of Freightquote’s commitment to improved technology and streamlined user interface.