Air cargo demand rebounded in March, driven in part by businesses accelerating shipments ahead of anticipated U.S. tariff changes.

According to the International Air Transport Association (IATA), global airfreight demand, measured in cargo tonne kilometers (CTK), rose 4.4% compared to the same month last year. Capacity also increased by 4.3%, while the cargo load factor remained stable at 47.5%.

March’s figures marked a record high for the month and reversed a slight 0.1% decline seen in February. IATA’s Director General, Willie Walsh, attributed part of the surge to companies rushing to move goods before the U.S. implemented new tariffs.

“March cargo volumes were strong,” said Walsh. “It’s possible this reflects front-loading, as some businesses acted early to avoid the U.S. tariffs announced on April 2 by the Trump Administration.”

Walsh added that while ongoing uncertainty around the extent of the tariff implementation could negatively affect trade in the longer term, short-term benefits—such as lower fuel prices due to global economic unease—have provided a temporary boost to air cargo.

“In this period of uncertainty, we hope political leaders can shift focus from escalating trade tensions to establishing stable agreements that restore confidence in global supply chains,” he said.

Economic indicators appear to support IATA’s view. The U.S. trade deficit rose sharply in March, increasing by over 9% to $162 billion. Analysts suggest the spike is due to companies fast-tracking imports to beat the new tariffs.

Global trade also showed momentum: industrial production worldwide increased by 3.2% year on year, and trade volumes climbed 2.9%, IATA noted.

On the inflation front, U.S. consumer prices rose by 2.4% in March (down from 2.8% in February), while the EU saw a 2.5% inflation rate. Japan’s inflation dipped slightly to 3.6%, and China remained in deflation at -0.1%, though this marked an easing.

Among the regions, Asia-Pacific airlines posted the highest cargo traffic growth at 9.6%, closely followed by North American carriers at 9.5%. European airlines recorded a 4.5% increase, while Latin American carriers saw a 5.8% gain. However, the Middle East experienced a 3.2% decline, and African airlines faced the steepest drop at 13.4%.

IATA highlighted that the Europe–North America corridor was the busiest trade route in March, while Asia–North America—still the largest by market share—also showed strong growth, likely boosted by pre-tariff shipments.

In contrast, Europe–Middle East and Africa–Asia trade lanes were the only ones to record declines during the month.

 

Source: aircargonews.net