The volume of cargo moving through Singapore's Changi International Airport continued its downward spiral in September, dropping an annualised 12.9 per cent.
According to the Civil Aviation Authority of Singapore, goods linked to the Asian economies led the declines as the region felt the immediate effects of the attacks in New York and Washington on top of a steadily weakening global economy.
Air trade linked to Taiwan was the biggest loser, shrinking an annualised 27.9 per cent, to 9,960 tonnes.
Also showing shrinkage of at least 19 per cent was trade linked to the United States, Malaysia and Japan.
Changi's overall figures for the month were similar to those in Hong Kong, where the leading air-cargo handler, Hongkong Air Cargo Terminals (Hactl), saw cargo volume during the month decline an annualised 11.1 per cent, to 139,120 tonnes.
Tonnage handled by Hactl for the third quarter was 388,190 tonnes, down 13.4 per cent. At the same time, the nine-month total was 1.12 million tonnes, a drop of 10.1 per cent.