Airfreight volumes from Southeast Asia to the US in October grew at the fastest rate of the year so far as manufacturing continues to switch away from China.
The latest figures from WorldACD show that despite the US imposition of tariffs and the end of the de minimis exemption, air cargo tonnages from Asia Pacific to the US remain “significantly higher” than last year’s levels.
In week 46, overall demand from the region to the US was up 6% year on year, with Taiwan and Southeast Asia leading the charge.
“According to new analysis by WorldACD, demand from Southeast Asia (SEA) origins to the US was up by 40%, year on year, in October, the highest year on year full-month growth figure this year,” said WorldACD.
“For the first ten months of this year, tonnages from Southeast Asia to the US were up by an average of nearly 26%, year on year.”
However, other countries in the region haven’t fared quite so well.
In week 46, tonnages from China were down 2% year on year, Hong Kong slid 16% and South Korea slipped 10%. Year-to-date (YtD) tonnages from China and Hong Kong to the US are down by nearly 6%.
“These figures partly reflect a trend for US importers to seek suppliers from other countries as alternatives to China,” WorldACD said in its weekly market summary.
“For some countries, such as Taiwan, it also partly reflects very strong demand this year for high-performance semiconductor chips, including those used in AI.
“Air imports from Taiwan have been consistently up by around 30-50% this year, with similar year-on-year increases from Vietnam, Thailand and Malaysia, where semi-conductors and other electronic goods and components also form a significant part of air exports.”
WorldACD said that in week 46, for example, airfreight tonnages to the US from Taiwan, Vietnam, Thailand, and Malaysia were up by +41%, +60%, +37%, and +62%, year on year, respectively.
Elsewhere, the data provider said that rates on services out of Asia Pacific had continued to climb in recent weeks ahead of the Black Friday retail event and Thanksgiving in North America, but they remain down on last year’s levels.
Average spot rates from Asia Pacific origins rose by 4% week on week to $4.11 per kg in week 46 as tonnages from the region continued to rise. Compared with last year, rates from Asia Pacific to the US are down 11%.
