Global air cargo demand rose 4.4% year-on-year in March 2025, with international volumes up 5.5%, marking a historic high for the month, according to IATA. Capacity also grew 4.3%, with a 6.1% increase in international operations. The growth is partly attributed to businesses front-loading shipments ahead of US tariff changes announced for 2 April, and aided by a 17.3% drop in jet fuel prices.
Regional Highlights:
Asia-Pacific led with 9.6% growth, fuelled by strong intra-regional and trans-Pacific flows.
North America followed with 9.5%, while Europe posted 4.5% growth.
Latin America saw 5.8% growth, Africa slumped -13.4%, and Middle East dipped -3.2%, likely due to strong year-on-year comparisons and Red Sea disruptions.
Key Trade Lane Trends:
Europe–North America: +8.5%, most active lane in March.
Asia–North America: +7.3%, rebounding from February’s dip.
Europe–Asia: +8.3%, with 25 consecutive months of growth.
Africa–Asia: -40.2%, sharpest decline across all lanes.
Economic Context:
World industrial output rose 3.2%, trade volumes +2.9%.
CPI inflation is easing globally: US 2.4%, EU 2.5%, Japan 3.6%, China remains in slight deflation at -0.1%.
IATA’s Director General Willie Walsh noted that while March’s numbers are strong, continued tariff uncertainty may weigh on global trade unless more stable agreements are reached.
