In the previous few years, air cargo outbound and inbound from and to Canada has been relatively stable. Inbound volumes to Canada dropped -15% in between 2019 and 2023, whereas outbound volumes increased +6 p.c within the an analogous period. Yield charges (USD per kg) for inbound shipments to Canada surged between 2019 and 2021 (+170 p.c) and bear dropped to a price of +40 p.c in 2024 when when in contrast with 2019.
In Q1-2024 both outbound and inbound volumes from and to Canada increased when when in contrast with Q1-2023. The elevate in inbound volumes is predominantly precipitated by three origin regions (eye inbound figures below). Outbound volumes handiest increased for two out of six origin regions. Yield charges (USD per Kg) lowered for practically all origin and destination regions excluding for shipments originating within the Center East and South Asia and North The USA.
Both the Asia Pacific and Center East & South Asia received +11 p.c and +19 p.c by formula of air cargo volumes from Canada in Q1-2024 when when in contrast with Q1-2023. In the first three months of 2024, Canada also dealt with +38 p.c and +32 p.c of air cargo shipments from the an analogous regions Asia Pacific and Center East and South Asia, as well to from Africa (+41 p.c) when when in contrast with the first three months of 2023.
The improvement of yield charges (USD per kg) has shown a truly obvious trend on the inspiration of 2024. Air cargo shipments from Canada to all locations (regions) were priced at a price between -5 p.c and -20 p.c decrease when when in contrast to the inspiration of 2023. Equally, yield charges of shipments arriving in Canada were in overall decrease, as a change of air cargo from the Center East & South Asia and North The USA. For all origin regions, air cargo shipments were -12 p.c in 2024.
Roughly half of all outbound air cargo from Canada is labelled as a varied product class. The bulk of these particular merchandise are fish and seafood, inclined/high-tech, and Pharma/temp. On the opposite hand, whereas the fish and seafood product increased in March 2024 when when in contrast with March 2023 (+23 p.c), both inclined/high-tech and pharma-temp volumes lowered within the an analogous period, as well to air cargo volumes within the majority of particular product classes.
For air cargo shipments arriving to Canada, the majority of particular merchandise teams bear increased in volume. Fish and seafood, which is predominantly exported has also been an increasing number of imported in Q1-2024 when when in contrast with Q1-2023. On the opposite hand, obvious product classes were imported to Canada decreasingly, corresponding to unsafe items -11 p.c, valuables -8 p.c, and dwell animals -6 p.c.
