Global trade increased by 6% year-on-year in July, extending the run of consecutive monthly expansions to 33 months, on a year-on-year basis, according to data released by the International Air Transport Association (IATA).
What’s more, jet fuel prices rose by 8.3% month-on-month in August and were 79.2% higher than a year earlier.
“Air cargo demand rose 4.4% year-on-year in August with all regions reporting growth even as capacity was trimmed by 0.1%. Strong demand and higher load factors helped airlines to recoup some of the exceptionally high fuel costs. Yields rose month-on-month for the first time since April, while global goods trade growth continues. Both are positive signs as the year-end peak season comes into view,” says Marie Owens Thomsen, IATA’s SVP, sustainability and chief economist.
Key takeaways:
- Total demand, measured in cargo ton-kilometers (CTK), increased by 4.4% compared to August 2025 (+5.3% for international operations).
- Capacity, measured in available cargo ton-kilometers (ACTK), decreased by 0.1% compared to August 2025 (+0.1% for international operations).
- Global manufacturing activity increased in August. The Global Manufacturing Output Purchasing Managers’ Index (PMI) increased 0.3 points to 53, while the New Export Orders Index rose 1.4 points to 51.4. Both indicators remained supportive of air cargo demand.
- North American carriers saw a 6.6% year-on-year increase in air cargo demand in August, the strongest performance of all regions. Capacity decreased by 2.5% year-on-year.
