GENEVA: International freight volumes are expected to grow just 17 per cent over the next five years, according to the International Air Transport Association (IATA).
This consensus outlook incorporates a conservative estimate of the recovery in global economic activity and world trade volumes over the coming years, the association said in its IATA Airline Industry Forecast 2013-2017.
IATA's director general and chief executive officer, Tony Tyler said air cargo is a key enabler for the movement of high value products and perishable goods around the globe.
"More than US$6 trillion worth of goods are air freighted annually, accounting for around 35 per cent of total world trade. But more recently, the relationship between international trade and gross domestic product (GDP) has broken down, owing to rising trade barriers and 'on-shoring' of production.
"The successful conclusion of the World Trade Organisation talks in Bali could potentially be very important in kick-starting trade growth.
"To be ready to take best advantage of possible opportunities, air cargo needs to work together as an industry, to improve competitiveness and enhance the quality of its service to customers," he added.
IATA said international freight volumes are expected to grow at a five-year compound annual growth rate (CAGR) of 3.2 per cent.
This consensus outlook incorporates a conservative estimate of the recovery in global economic activity and world trade volumes over the coming years, the association said in its IATA Airline Industry Forecast 2013-2017.
IATA's director general and chief executive officer, Tony Tyler said air cargo is a key enabler for the movement of high value products and perishable goods around the globe.
"More than US$6 trillion worth of goods are air freighted annually, accounting for around 35 per cent of total world trade. But more recently, the relationship between international trade and gross domestic product (GDP) has broken down, owing to rising trade barriers and 'on-shoring' of production.
"The successful conclusion of the World Trade Organisation talks in Bali could potentially be very important in kick-starting trade growth.
"To be ready to take best advantage of possible opportunities, air cargo needs to work together as an industry, to improve competitiveness and enhance the quality of its service to customers," he added.
IATA said international freight volumes are expected to grow at a five-year compound annual growth rate (CAGR) of 3.2 per cent.
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