The International Air Transport Association (IATA) revealed that the global demand for air freight in November 2022 decreased by 13.7 percent on an annual basis, due to the pressure of global economic conditions.
"IATA" indicated in a report issued by it that the global air freight markets show a decline in demand with the continuation of economic headwinds, as the demand for global air freight decreased by 10.1 percent last November, compared to the same month in 2019 (before the Corona pandemic).
According to the “IATA” report, new global export orders, a leading indicator of demand for goods, were stable in November. However, as a result of the sharp rise in the US dollar, it added to the cost pressure as many costs are denominated in US dollars, and this includes jet fuel which is already at high levels.
The report indicated that the market signals are conflicting, but the month of November provided several indicators with bullish potential, including the stability of oil prices and slowing inflation, while there was a slight expansion in commodities traded globally.
Source (Anadolu Agency, Edited)
