According to an analysis by WorldACD Market Data, the Europe region recorded significant growth in 2024 for both inbound and outbound air cargo tonnages, although there were notable variations from month to month. In December, for example, inbound tonnages to Europe were up, year on year (YoY), by +7%, and outbound tonnages from Europe by +2% compared with December 2023, while the trend for 2024 as a whole was one of strong growth, especially for inbound tonnages, increasing for the full year by +15% YoY, and outbound chargeable weight growing by +7%.
All-but-one of Europe’s top 10 largest outbound air cargo markets recorded growth in 2024, based on the more than 2 million monthly transactions recorded by WorldACD’s global database. USA North East remains Europe’s top outbound air cargo market by flown chargeable weight, after recording +5% growth, YoY, with China East only slightly behind now following +8% growth in 2024. Meanwhile, there was double-digit percentage growth in tonnes flown from Europe to the United Arab Emirates (+27%, YoY), India (+17%), and Saudi Arabia (+38%).
Asia continues to dominate the top 10 largest inbound origin markets for air cargo flown to Europe, with Hong Kong once again leading – thanks in part to +27% YoY growth in 2024 – followed by China East (+19%, YoY), China South East (+21%), and India, which recorded +22% YoY growth in chargeable weight flown to Europe. Cargo flown from China Central & West to Europe also recorded significant growth (+51%) in 2024.
On the pricing side, average full-market rates for outbound shipments from Europe decreased by -17% in 2024, while average rates for inbound shipments to Europe rose by +15%, year on year. Outbound rates from Northern Europe and Western Europe declined the most, at -18% and -17%, respectively, with average prices from Balkan & SE Europe (-11%) and from Eastern Europe (-13%) holding up slightly better.
Conversely, inbound rates to Northern Europe (+24%, YoY) and Western Europe (+15%) recorded the biggest increases in 2024, with smaller increases to Balkan & SE Europe (+6%) and Eastern Europe (+12%, YoY).
