The International Air Transport Association (IATA) last week announced that Ethiopia’s air cargo market is the fastest growing in the world, along with Vietnam, Bangladesh Brazil and Peru, The Reporter reported.

IATA’s Airline Industry Forecast 2013-2017 released at the IATA annual Cargo Media Day held on December 11 in Geneva, Switzerland, reveals that Ethiopia is expected to be the fourth fastest growing country for air freight volumes over the forecasting period with a compound annual growth rate (CAGR) of 5.3.

Desmond Vertannes, global head of cargo with IATA, told The Reporter that the growing investment inflow from Asia to Africa is boosting the air cargo business in Africa.

“China’s increasing Trade and investment in Africa is a big contributing factor. African exporters are finding new markets. The big contributor is the perishable cargo industry. The perishable industry, the flower, fish industry and the manufacturing industry contribute to the growth of the air cargo in Africa,” Vertannes said.

Ethiopain is the largest cargo operator in Africa and among the top fifty in the world. Currently, Ethiopian operates a fleet of 6 dedicated freighters to 24 destinations around the world and carries annually around 200,000 tons of cargo, according to Tewolde Gebremaraim CEO of Ethiopian Airlines.

Source: The Reporter