Worldwide air cargo volumes increased in January, even with a decline in e-commerce activity in China.

Global air cargo volumes increased by 7% year-on-year in January 2026, aided by the early Lunar New Year, although China’s e-commerce exports declined for the first time since January 2022. This rise marked the strongest growth since January 2025, with a 5% increase in capacity, leading to a 1% rise in the load factor to 57%. Despite a slight decline in freight rates, challenges remain due to dwindling e-commerce demand from China and regulatory changes affecting cross-border trade. Overall, uncertainty in e-commerce and ocean shipping conditions will influence air cargo trends in the upcoming months.