Growth in cargo slows at airport terminal
Growth in freight volume at Hongkong Air Cargo Terminal slowed last month due a drop in imports and decelerating export growth.
The terminal, which is responsible for more than 70 per cent of air freight at Chek Lap Kok International Airport, handled 213,868 tonnes of cargo last month, up 7.6 per cent year on year, according to the provisional figures provided by the operator.
In the first 10 months, it handled 1.85 million tonnes of air freight, up 14.3 per cent year on year - a rate one percentage point lower than the growth of the first nine months.
The growth in exports slowed to 8.2 per cent last month to 125,697 tonnes, despite a comparative 18 per cent increase in the first 10 months, with volume reaching 1.03 million tonnes.
The growth rate of exports to Europe, the largest market for China's manufactured goods, dropped to less than 20 per cent for the first time this year. Volume last month rose only 13 per cent to 41,730 tonnes. The year-to-date figure was 347,175 tonnes, up 27 per cent year on year - two percentage points less than the 29 per cent seen in the January to September period.
Exports to the US grew 8.4 per cent to 38,798 tonnes, while year-to-date figures show a 13 per cent increase to 301,535 tonnes.
Import volume dropped 0.4 per cent last month to 57,510 tonnes.