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FINANCIAL NEWS
UAE air cargo to grow 4.1 percent in 5 years
25 Oct 2014
(MENAFN) The International Air Transport Association (IATA) Airline Industry Forecast 2014-2018 shows that international freight volumes are expected to increase at a compound annual growth rate (CAGR) of 4.1 per cent over the next five years, Gulf News reported.
The United States, China and the UAE will each be adding more than 1 million additional tons of freight by 2018 compared to today. The UAE will have replaced Germany as the third largest market.
“Air cargo remains as vital to the global economic system as ever. This year, more than USD6.8 trillion worth of goods, equivalent to 35 per cent of total world trade by value, will be transported around the world by air,” IATA said.
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