IATA Report Shows Strong Link Between Air Cargo Connectivity and Global Trade Participation
The International Air Transport Association (IATA) has released a report identifying a quantitative link between a country’s air cargo connectivity and its participation in global trade. A 1% increase in air cargo connectivity was associated with a 6.3% increase in a country’s total trade.
“Air cargo is key in supporting the current global trading system. In 2015, airlines transported 52.2 million metric tons of goods, representing about 35% of global trade by value. That is equivalent to US $5.6 trillion worth of goods annually, or US $15.3 billion worth of goods every day. We now have quantitative evidence of the important link between air cargo connectivity and trade competitiveness. It’s is in the economic interest for governments to promote and implement policies for the efficient facilitation of air cargo,” said Brian Pearce, Chief Economist at IATA.
“Facilitating trade with efficient air cargo processes requires a strong partnership between governments and industry. Governments have the important role of implementing global standards and agreements to facilitate trade and make it possible for airlines to modernize processes. In turn, the industry needs to embrace these opportunities to improve competitiveness and provide customers with enhanced shipping quality, service and better predictability,” said Glyn Hughes, Global Head of Cargo, IATA.
The link to the full study can be found here.