DHL Air Freight State of the Industry – February 2024

Find out the latest developments of the global air freight market in this monthly analysis by DHL Global Forwarding.
  • Airfreight industry volumes back to growth against low 2023 levels, GDP growth remains steady.
  • Service sector growth coupled with falling price pressure, leading to easing global inflation expectations, the lowest since October 2020.
  • PMI index rose to 51.8 in January, up from 51.0 in December 2023, indicating improvement across most sectors.
  • Global air cargo capacity and demand continued to rise YoY in early 2024, boosted by pre-Lunar New Year combined with Middle East disputes.
  • Brent crude oil spot price averaged $80 per barrel in January 2024, expected to rise slightly in the coming months.
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