Global cargo demand drops 13.7% as headwinds persist

Global air cargo market has recorded a marginal drop in demand as economic headwinds persist.

[FILES] Air freighters offloading consignments at the cargo section of Murtala Muhammed International Airport , Lagos.

Compared to pre-COVID-19 levels , there was a smaller contraction in overall demand , while capacity was down 8.8 per cent. Also, the Consumer Price Index for G7 countries decreased from 7.8 per cent in October to 7.4 per cent in November, the largest month-on-month decline in 2022. Inflation in producer prices reduced to 12.7 per cent in November, its lowest level so far in 2022.

At the regional performance end, African airlines saw cargo volumes decrease by 6.3 per cent in November 2022 compared to November 2021. This was an improvement in performance compared to the previous month . Capacity was 11.4 per cent below November 2021 levels.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

GuardianNigeria /  🏆 1. in NG

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Net-Zero Buildings: Global CEOs Pledge 50% Cut in Real Estate Emissions by 2030 – THISDAYLIVE
Read more »

Commodity Prices To Fall Amid Slow Global Growth – World BankThe commodities market is expected to decline in 2023 as slowing global growth leads to a drop in the prices of energy, metals and agricultural products, the Wo
Read more »

At Global South Meeting, Buhari Seeks Common Agenda To Reduce Debt Burden, InflationPresident Muhammadu Buhari, on Friday, urged leaders of the Global South to agree on a common agenda on ways to reduce the increasing burden of debt and inflati
Read more »

Bitcoin price crashes by 65%, adoption rate drops - Punch NewspapersThe global price of Bitcoin, the most successful cryptocurrency, fell by 65.29 per cent in 2022.
Read more »

EIA raises global oil demand growth forecast for 2023 | The Guardian Nigeria News - Nigeria and World NewsThe United States Energy Information Administration (EIA) has increased its global oil demand growth forecast for 2023 by 50,000 barrels per day (bpd) to 1.05 million bpd, resulting in total demand of 100.48 million bpd.
Read more »

FIFA Snubs Ronaldo, Nominates Messi, Mbappe, Others For '2022 Best Player' AwardFIFA, the global governing body of football, has released the list for The Best Football Awards, with Lionel Messi, Kylian Mbappe and Neymar among fav
Read more »