INTERNATIONAL trade statistics through the first half of 2011 reveal that "the overall picture for global air freight is one of growth slowing down," says the organisation for Economic Cooperation and Development's (OECD) International Transport Forum (ITF).

    "The air cargo recovery has faltered and volumes are now only nine per cent above pre-crisis levels in the EU area compared to 15 per cent in February," the ITF said.

    "External trade in tonnes of goods carried by air in the United States has shown practically no growth and total trade in tonnes is only two per cent above the pre-crisis peak."

    The ITF also said the "risks of dependence on Asia-led global growth are exposed. Trade by air with China declined for both the [US and EU in the first half], possibly indicating a slowdown in demand from the world's engine for growth, according to Air Transport World, of Silverspring, Maryland.

    Only trade with India seems to have resisted the otherwise downward trend. Both sea and air exports from the US to China declined between February and June. EU exports to China grew in Q2 but were fairly flat for the first half of 2011 as a whole," said the report.

    After global air cargo traffic declined 25 per cent in less than 18 months in 2008 - 2009, the industry experienced a robust recovery in 2010. While cautioning earlier this year that there is a "great deal of uncertainty" going forward, Air Cargo Management Group predicted that global FTK growth would be in the range of 4.5 - 5.5 per cent a year.

(source:http://www.shippingonline.cn/news/newsList.asp?classname=News)