Cargo volumes in Hong Kong continues to be affected by global economic headwinds and supply chain disruptions.
Hong Kong International Airport — the world's busiest airport — reported another month of cargo decline in September with cargo traffic to and from North America and Europe registering the most significant decreases.
The Airport Authority Hong Kong (AAHK) reported that cargo throughput dropped 25% last month to 341,000 tonnes — after the airport already reported a 21.0% drop in August, and a 17.0% year-on-year decline in July.
Flight movements also decreased by 16.3% to 11,665 compared to the same month last year.
"Cargo volume was affected by global economic uncertainties, on-going geopolitical tensions and disruptions to global supply chains," AAHK said, adding that for September, both exports and imports to and from Hong Kong were down.
During the month, exports and imports saw decreases of 30% and 25%, respectively, compared to the same month last year.
For September, AAHK said cargo traffic to and from key trading regions in North America and Europe registered the most significant decreases.
Over the first nine months of the year, Hong Kong International Airport — the world's busiest cargo hub — also saw a 12.9.1% drop in cargo tonnage to 3.1 million tonnes. Flight movements also declined 4.7% to 96,685 from the same period last year.
On a 12-month rolling basis, cargo throughput at the airport saw a decline of 4.6% to 6.7 million tonnes.
Meanwhile, AAHK said the airport handled 525,000 passengers, representing year-on-year growth of 132.7%.
AAHK said the growth in passenger throughput was driven mainly by increases in both Hong Kong resident and visitor traffic due to the relaxation of quarantine requirements for inbound travellers. Passenger traffic to and from Southeast Asia experienced the most significant increase.