Hong Kong International Airport (HKIA) saw its cargo volumes grow again in January after a strong 2024 and the start-up of its three-runway system.
The world’s busiest cargo airport saw its cargo volumes in January increase by 4.1% year on year to 394,000 tonnes.
All cargo sectors saw positive growth, with transhipments recording the highest increase at 12.2%.
“Cargo traffic to and from the Middle East, Europe and Australasia grew the most among key trading regions during the month,” the airport said.
The airport would have also benefitted from a ramp up in cargo volumes ahead of factory closures for the Lunar New Year holiday, which fell earlier this year than it did in 2024.
Last year, the airport saw its cargo volumes increase by 14% year on year to 4.9m tonnes, fuelled by rapid growth in e-commerce demand.
This year air cargo volume growth is expected to moderate – IATA is predicting an increase of around 5.8% industry wide.
However, there are concerns that US moves to add new tariffs on goods from China and in the future end duty-free exemption for e-commerce shipments could have a negative impact on the demand outlook.
Meanwhile, in November last year the airport completed refurbishment work on its third runway, allowing it to operate three runways for the first time.
The extra runway will provide the expanded capacity for HKIA to further strengthen Hong Kong’s position as a major international aviation hub.
The airport has confirmed its target to serve 120m passengers and handle 10m tonnes of cargo annually “in about 10 years from now”.
The airport’s major airline customer, Cathay Pacific, also reported a busy start to the year for cargo.
Its cargo volumes in January increased by 13.7% to 130,572 tonnes.
The airline’s chief customer and commercial officer Lavinia Lau observed: “Cargo got off to a slower start after the New Year holidays, but demand gradually picked up pace as we approached the traditional pre-Lunar New Year rush.”
She cautioned: “Softer cargo demand is expected following the Lunar New Year period.”