South Korea's air cargo volumes were down 1.9 per cent to 17,000 tons year on year in the first quarter, a decline attributed to sagging exports of information technology products.
The 2.9 per cent first quarter in international air cargo was also the result of Korean companies outsourcing the manufacture of mobile phones and televisions overseas, reported Yonhap News Agency. Domestic air cargo plummeted 9.6 per cent at 74,000 tons.
Demand for air cargo is likely to remain uncertain because of high fuel costs, currency violability and continuing economic uncertainty in the EU and China, said the Ministry of Land, Transport and Maritime Affairs.
Cargo declines were down starkly against overseas passenger flights which set a new record up 12.3 per cent in the first three months to nearly 11.4 million passengers.