Global total air cargo demand recorded record year-on-year growth in October, the International Air Transport Association (IATA) has reported. IATA is the global representative body for the airline industry.

“Air cargo demand grew 4.1% [year-on-year] in October, marking the eighth consecutive month of expansion and setting a new monthly record for volumes,” highlighted IATA director-general Willie Walsh. “While the Asia-North America trade lane extended its contraction to six months, October saw double-digit or near double-digit growth within Asia, between the Middle East and Europe, and between Europe and Asia. This shifting growth pattern shows that air cargo is enabling global supply chains to adapt to the impact of US tariffs. This positive news is especially significant as the air cargo sector enters the peak fourth quarter shipping season.”

International air cargo demand grew even more strongly, year-on-year, in October, at 4.8%. Total global air cargo capacity was up 5.1% year-on-year, with international capacity increasing by 6.4%.

Regarding wider economic factors that affected air cargo, in September the global goods trade grew by 5.3%, year-on-year. Also in September, global industrial production was up 3.7%, year-on-year; this is not only the fastest rate since March but also the strongest monthly growth rate since late 2022.

Returning to October, jet fuel prices increased by 2.5%, year-on-year, even though crude oil prices fell. This is due to a tightening in the diesel market, which pushed the jet fuel spread to almost 100% higher than the level in October last year.

The Purchasing Managers’ Index (PMI) for global manufacturing strengthened in October, for the third consecutive month, to 51.45 (over 50 means growth). But the PMI for new export orders declined slightly, to 48.31 (below 50 means contraction), signalling continuing caution resulting from uncertainty about tariffs.

As for IATA’s six regions, the one that recorded by far the fastest year-on-year growth in October was Africa, at 16.6%. The Asia-Pacific was second, at 8.3% (exactly half Africa’s rate), followed by the Middle East (5.7%) and Europe (4.3%). North America, and Latin America and the Caribbean, both recorded contractions of -2.7%.

Of the main trade lanes, the one that saw the strongest year-on-year growth in October was Europe-Asia, at 11.7%, followed by Middle East-Asia (11.5%) and Africa-Asia (10.9%). Next was Within Asia (9%), North America-Europe (2.6%), and Middle East-Europe (0.1%). Within Europe saw a contraction of -0.7% and Asia-North America a decline of -1.4%.