INTERNATIONAL air cargo volume to and from the philippines decreased nine per cent, reaching 364.24 million kilogrammes last year, compared to 400.35 million kilogrammes in 2021, according to the Civil Aeronautics Board (CAB), reports the Philippines Star.
All segments recorded contractions: direct shipment and break building delivery dipped 12 per cent to 63.92 million kilogrammes and 140.87 million kilogrammes, respectively, while consolidations dropped five per cent to 159.44 million kilogrammes.
Similarly, domestic air cargo volume witnessed an 18 per cent decline, falling to 49.15 million kilogrammes in 2022 from 59.68 million kilogrammes in 2021.
Among the segments, direct shipment slipped by five per cent to 27.98 million kilogrammes, while consolidations crashed 30 per cent to 21.04 million kilogrammes.
However, the CAB reported that break building delivery experienced significant growth, increasing seven-fold to 131,248.5 kilogrammes annually.
The decrease in air cargo flow in the country reflects the concerns raised by the International Air Transport Association (IATA).
IATA projects that the air cargo industry will surpass its pre-pandemic levels this year, but it anticipates pressure from rising prices and a shortage of goods.
While the industry will face macroeconomic challenges, IATA expects air cargo yield and revenue to remain high and exceed the levels of 2019.
In 2022, international air cargo flow, according to IATA, fell eight per cent compared to the record set in 2021 and was 1.6 per cent lower than the 2019 level.
Multiple economic challenges contributed to this decline. Inflation constrained consumer spending, causing families to tighten their budgets.
In the Philippines, inflation averaged 5.8 per cent in 2022, up from 3.9 per cent in 2021, as the government struggled to address price spikes in essential commodities.
On a regional scale, Asia and the Pacific have yet to regain stability in terms of factory output, particularly as most of East Asia experienced prolonged lockdowns.
IATA predicts a decline in export orders and disruptions in the region's supply chain.
SeaNews Turkey
All segments recorded contractions: direct shipment and break building delivery dipped 12 per cent to 63.92 million kilogrammes and 140.87 million kilogrammes, respectively, while consolidations dropped five per cent to 159.44 million kilogrammes.
Similarly, domestic air cargo volume witnessed an 18 per cent decline, falling to 49.15 million kilogrammes in 2022 from 59.68 million kilogrammes in 2021.
Among the segments, direct shipment slipped by five per cent to 27.98 million kilogrammes, while consolidations crashed 30 per cent to 21.04 million kilogrammes.
However, the CAB reported that break building delivery experienced significant growth, increasing seven-fold to 131,248.5 kilogrammes annually.
The decrease in air cargo flow in the country reflects the concerns raised by the International Air Transport Association (IATA).
IATA projects that the air cargo industry will surpass its pre-pandemic levels this year, but it anticipates pressure from rising prices and a shortage of goods.
While the industry will face macroeconomic challenges, IATA expects air cargo yield and revenue to remain high and exceed the levels of 2019.
In 2022, international air cargo flow, according to IATA, fell eight per cent compared to the record set in 2021 and was 1.6 per cent lower than the 2019 level.
Multiple economic challenges contributed to this decline. Inflation constrained consumer spending, causing families to tighten their budgets.
In the Philippines, inflation averaged 5.8 per cent in 2022, up from 3.9 per cent in 2021, as the government struggled to address price spikes in essential commodities.
On a regional scale, Asia and the Pacific have yet to regain stability in terms of factory output, particularly as most of East Asia experienced prolonged lockdowns.
IATA predicts a decline in export orders and disruptions in the region's supply chain.
SeaNews Turkey