According to Freight Waves' report on May 14, the global air freight market has experienced unexpectedly strong momentum in the first half of 2024. After the Spring Festival in February this year, the air freight volume in China did not decline as expected by industry insiders, but instead remained strong. The main factors driving this trend are Asian exporters changing their transportation methods due to slow maritime shipping in the Red Sea conflict region, and Chinese e-commerce platforms fulfilling a large number of orders for Europe and North America.
According to data from the rate benchmark platform Xeneta, air freight demand in April increased by 11% year-on-year, marking four consecutive months of growth. The International Air Transport Association also released related data, indicating that in the first quarter of 2024, air freight tonnage has been growing at a double-digit rate for five consecutive months, solidifying the recovery trend since 2022. This momentum has continued into early May, with freight volumes increasing by 12% to 16% year-on-year.
The e-cigarette business and e-cigarette are two product categories dominating the Chinese air export market. Fast fashion manufacturers and market platforms like Shein, Temu, and AliExpress have become so popular that they do not have traditional retailers' slow seasons. According to the latest monthly update data from Dimerco, e-commerce accounts for 50% of the total air exports from China, with 70% of exports by air from Hong Kong and 50% from Shanghai being small parcels.
Since the beginning of this year, global manufacturing has experienced a slight expansion, with new export orders approaching the growth threshold. According to the Supply Management Association, the order-to-inventory ratio has continued to rise this year, supporting logistics demand. The World Trade Organization stated this week that global merchandise trade is expected to decline by 1.2% in 2023, but will grow by 2.6% this year.
Notice
1. This article is provided exclusively for professional research purposes related to industry, technology and policy. Any reference to brands or products is made solely for the purpose of objective description and does not constitute an endorsement, recommendation, or promotion of any brand or product.
2. The use of nicotine products, including but not limited to cigarettes, e-cigarettes, and heated tobacco products, is associated with significant health risks. Users are required to comply with all relevant laws and regulations in their respective jurisdictions.
3. This article is strictly restricted from being accessed or viewed by individuals under the legal age.
Copyright
This article is either an original work by 2Firsts or a reproduction from third-party sources with the original source clearly indicated. The copyright and usage rights of this article belong to 2Firsts or the original source. Unauthorized reproduction, distribution, or any other unauthorized use of this article by any entity or individual is strictly prohibited. Violators will be held legally responsible. For copyright-related matters, please contact: info@2firsts.com
AI Assistance Disclaimer
This article may have utilized AI to enhance translation and editing efficiency. However, due to technical limitations, errors may occur. Readers are advised to refer to the sources provided for more accurate information.
This article should not be used as a basis for any investment decisions or advice, and 2Firsts assumes no direct or indirect liability for any errors in the content.
