Within the previous few years, air cargo outbound and inbound from and to Canada has been rather trusty. Inbound volumes to Canada dropped -15% in between 2019 and 2023, even as outbound volumes elevated +6 percent in the same period. Yield rates (USD per kg) for inbound shipments to Canada surged between 2019 and 2021 (+170 percent) and have dropped to a charge of +40 percent in 2024 when put next to 2019.
In Q1-2024 both outbound and inbound volumes from and to Canada elevated when put next to Q1-2023. The expand in inbound volumes is predominantly ended in by three foundation areas (see inbound figures below). Outbound volumes most titillating elevated for 2 out of six foundation areas. Yield rates (USD per Kg) decreased for nearly all foundation and destination areas excluding for shipments originating in the Heart East and South Asia and North The united states.
Both the Asia Pacific and Heart East & South Asia bought +11 percent and +19 percent through air cargo volumes from Canada in Q1-2024 when put next to Q1-2023. Within the first three months of 2024, Canada also dealt with +38 percent and +32 percent of air cargo shipments from the same areas Asia Pacific and Heart East and South Asia, besides to from Africa (+41 percent) when put next to the first three months of 2023.
The enchancment of yield rates (USD per kg) has shown a extremely sure pattern before every little thing of 2024. Air cargo shipments from Canada to all destinations (areas) have been priced at a charge between -5 percent and -20 percent lower when put next to the starting up of 2023. Similarly, yield rates of shipments arriving in Canada have been most incessantly lower, besides air cargo from the Heart East & South Asia and North The united states. For all foundation areas, air cargo shipments have been -12 percent in 2024.
Roughly half of all outbound air cargo from Canada is labelled as a diversified product class. Nearly all of those special products are fish and seafood, weak/high-tech, and Pharma/temp. Nonetheless, even as the fish and seafood product elevated in March 2024 when put next to March 2023 (+23 percent), both weak/high-tech and pharma-temp volumes decreased in the same period, besides to air cargo volumes in the majority of special product categories.
For air cargo shipments arriving to Canada, the majority of special products groups have elevated in volume. Fish and seafood, which is predominantly exported has also been an increasing selection of imported in Q1-2024 when put next to Q1-2023. Nonetheless, sure product categories have been imported to Canada decreasingly, equivalent to unhealthy goods -11 percent, valuables -8 percent, and are residing animals -6 percent.
