In January, global air cargo saw a modest 2% year-on-year growth, significantly lower than the previous year’s 11% average, due to declining e-commerce volumes and an early slowdown for Lunar New Year (LNY) holidays in East Asia. Total tonnages dropped 12% in the last week of January, primarily due to a 33% decrease in chargeable weight from Asia Pacific, attributed to factory closures for LNY. However, increases from Central & South America (16%) and Africa (11%) helped offset some losses. Average global rates rose by 7% year-on-year, while the impact of changes in customs processes between China and the U.S. on air cargo remains uncertain.

Source: https://www.stattimes.com/air-cargo/tonnage-growth-eases-in-january-ahead-of-early-lunar-new-year-1354425