Japanese air cargo market growth to continue, albeit more slowly

Nittsu Research Institute and Consulting Inc, the consulting affiliate of freight forwarder Nippon Express, forecasts Japan’s air freight market to continue an upward trajectory through fiscal 2017, after a 6.7% drop in fiscal 2015 and a steady rebound in 2016. Following a rough patch in 2015, air cargo volumes rose 4.6% in 2016, and are projected to end fiscal 2017 around 3.7% higher than 2016. Despite a persistently strong yen, exports are expected to outpace import growth, and rise 5.8% in fiscal 2017 to about 1 million tonnes. Import volumes, meanwhile, are estimated to grow by about 1.5%.