Global airfreight volumes declined in the first full week of August after a mild rally the previous week, with chargeable weight sinking from all origins, while pricing and capacity inched lower, barely changing from the previous week, according to WorldACD data.

The Middle East was among the weakest-performing markets, along with South Asia, with volumes down 6pc in the first full week of August, outpacing declines in most other major origin regions as global cargo traffic weakened.

Global chargeable weight fell 4% week-on-week in the August 3 to 9 period, with volumes declining from all major origins. 

Europe and North America each recorded a 4% drop, while Asia Pacific fell 3% and Africa and Central and South America declined 2%.

The Middle East and South Asia (MESA) region was among the weakest-performing origin markets, with shipments to Europe falling 11% from the previous week.

The latest figures from WorldACD show a 4% drop in global tonnage compared with the prior week, with single-digit percentage contraction out of all origins. Volume fell -6% out of the Middle East and South Asia (MESA), followed by contraction of -4% from Europe and North America. Tonnage from Asia Pacific slipped -3% week-on-week (WoW), while Africa and Central & South America (CSA) registered -2% declines.