Total revenue ton-miles declined 7.0 percent in 2019. Demand fell 3.9 percent that year in response, the first decrease since 2012. The industry experienced some setbacks in 2019 because of economic decline related to international trade disputes. 6 Starting in 2018, demand slowed to an increase of 3.6 percent, with a corresponding total cargo revenue ton-miles increasing 5.6 percent. 5 Worldwide, the international air freight industry experienced strong growth in 2017, with demand, measured in cargo ton kilometers, increasing almost 10 percent and total cargo revenue ton-miles increasing 12.9 percent. Air cargo demand is cyclical and depends on various factors such as global economic activity, the business restocking cycle, and export orders. Air cargo services are typically used for high-value and perishable items. Some international cargo is transported by air on cargo and passenger planes when shippers are willing to pay the high cost to quickly deliver the goods. The international air cargo market is a smaller share of cross-border trade than ocean cargo transported on freighters. Source: Import dollar values are from the Bureau of Economic Analysis and freight ton totals are from the Department of Transportation. ![]() Inbound freight ton totals (in thousands) import air freight transportation services trade partners by import dollar value and their inbound freight tons for 2019 Country When combined, these five countries accounted for 43.9 percent of the inbound freight ton total and 50.9 percent of the total dollar value of import air freight transportation services. 4 The dollar value for the delivery services to the United States on foreign carriers was highest from South Korea at $1.1 billion, followed by China, Taiwan, Hong Kong, and Japan. The value of air freight transportation services provided solely by foreign carriers destined for U.S. Inbound air freight is carried by both domestic and foreign carriers. As seen in table 1, China contributed the most, with over 842,000 freight tons, followed by Hong Kong, which shipped just under 700,000 freight tons in 2019. inbound merchandise goods shipped via air. In 2019, 6.7 million air freight tons were shipped to the United States from foreign countries according to the Department of Transportation. Bureau of Labor Statistics (BLS) price index measures to describe the COVID-19 pandemic-related changes in the market since early 2020. This Beyond the Numbers article looks back at pre-pandemic inbound air freight price trends in the United States and around the world and uses U.S. inbound air freight, to unprecedented heights. ![]() 2 Drastically reduced shipping capacity and urgent demand for PPE pushed prices up for air freight transportation services for goods being shipped from foreign countries into the United States, also known as U.S. 1 At the same time, personal protective equipment (PPE) was in enormous demand all over the world. Typically, about 45 percent to 50 percent of air freight is transported in the bellies of passenger planes, but in April 2020, 75 percent of this air freight capacity was removed from the market due to a severe reduction in air travel. ![]() The international air freight industry, also known as the air cargo industry, experienced record high rates in the spring of 2020. The impact of the COVID-19 pandemic on the input and output prices of the airline and hotel industries: Insights from new BLS dataĮconomic productivity in the air transportation industry: multifactor and labor productivity trends, 1990–2014
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