Hong Kong posts significant 14.4% freight decline in February

posted on 18th March 2019 by Justin Burns
Hong Kong posts significant 14.4% freight decline in February

Hong Kong International Airport (HKIA) saw a significant 14.4 per cent decline in freight volumes last month which it said was due to “unfavourable macroeconomic conditions”.

The world’s busiest cargo hub airport handled 274,000 tonnes in the month after processing 321,000 tonnes in February 2018.

Over the first two months of the year, HKIA handled 676,000 tonnes of cargo in January and February 2019 for an 8.6 per cent decrease compared to the same period in 2018.

Amid global economic uncertainty, cargo traffic saw 10 per cent drops in both imports and exports in these two months, which HKIA said are consistent with the softening cargo market in the region. Amongst key trading regions, cargo traffic to and from Europe and Southeast Asia experienced the most significant decreases.

On a 12-month rolling basis, cargo throughput at HKIA saw a slight decline of 0.9 per cent to 5.06 million tonnes.