Benefiting from a series of economic stimulus policies around the world in 2009, there were signs of recovery of the world economy. Major developed countries GDP halted their decline and global trade began to rebound. According to the latest forecast of the International Monetary Fund the decline of the world economy 2009 contracted by 1.1 percent, and will grow by 3.1 percent in 2010.
As a direct reflection of the international economic recovery, international air cargo in 2009 rebounded significantly. From a global perspective, the obvious characteristics of air cargo in 2009 were;
- domestic was better than international
- Asia-Pacific, the Middle East fared better than other areas.
Compared with the global air cargo market, the Chinese air cargo market performance was very pronounced. Following 30 percent decline in the beginning of 2009, air cargo market in China began to rebound, and achieved positive growth by August. Domestic routes achieved positive growth in February, but international routes were greatly influenced by the international financial crisis, and did not regain positive growth until late in July.
In recent years, air cargo market in China has undergone significant changes:
First, Asia-Pacific regional airports were predominant in world ranking. According to the Airports Council International (ACI) ranking announcement Jan-Sept 2009, the first four places were all in Asia: Hong Kong, Incheon, Pudong and Narita as shown in the following table.
Second, representative of emerging economies, during the financial crisis, the gap between outbound and inbound traffic volume of China’s air cargo greatly increased. Such as Shanghai Pudong Airport, from 2003 to October 2009, the outbound traffic has been greater than the inbound traffic, but since the financial crisis began, this ratio was significantly increased, bringing great difficulties in operation for China’s air cargo companies.
Third, the proportion of foreign airlines decreased. Similarly, take the Shanghai Pudong Airport as an example, since 2005, the proportion of foreign airlines accounts for up to 75% of air cargo market in China , the number started to decline in 2007, and decreased significantly in 2009, the reasons are the strengthening of our air cargo development strategies and the support policies for the industry.
Compared with the global air cargo market, the Chinese air cargo market performance was very pronounced. Following 30 percent decline in the beginning of 2009, air cargo market in China began to rebound, and achieved positive growth by August. Domestic routes achieved positive growth in February, but international routes were greatly influenced by the international financial crisis, and did not regain positive growth until late in July.
In recent years, air cargo market in China has undergone significant changes:
First, Asia-Pacific regional airports were predominant in world ranking. According to the Airports Council International (ACI) ranking announcement Jan-Sept 2009, the first four places were all in Asia: Hong Kong, Incheon, Pudong and Narita as shown in the following table.
Benefiting from a series of economic stimulus policies around the world in 2009, there were signs of recovery of the world economy. Major developed countries GDP halted their decline and global trade began to rebound. According to the latest forecast of the International Monetary Fund the decline of the world economy 2009 contracted by 1.1 percent, and will grow by 3.1 percent in 2010.
As a direct reflection of the international economic recovery, international air cargo in 2009 rebounded significantly. From a global perspective, the obvious characteristics of air cargo in 2009 were;
- domestic was better than international
- Asia-Pacific, the Middle East fared better than other areas.
