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Import air freight prices up 55.8 percent, passenger fares down 8.9 percent, over year ended August

September 21, 2020

Import air freight prices rose 55.8 percent from August 2019 to August 2020. Within the import air freight category, prices of European carriers increased 53.9 percent and prices at Asian carriers rose 68.8 percent over this 12-month period.

12-month percent changes for air transportation services, August 2020
Category Percent change, August 2019–August 2020

Import air freight

55.8%

Europe

53.9

Asia

68.8

Export air freight

3.3

Europe

1.0

Inbound air freight

36.3

Europe

29.4

Asia

47.4

Outbound air freight

2.7

Europe

14.2

Asia

-4.0

Import air passenger fares

-8.9

Europe

-18.6

Asia

26.1

Latin America/Caribbean

-31.0

Export air passenger fares

-5.8

Europe

-16.3

Asia

10.6

Latin America/Caribbean

-13.8

Note: Data may be revised in each of the 3 months after original publication.

In contrast, prices for import air passenger fares declined 8.9 percent over the past 12 months.

Export air freight prices increased 3.3 percent over the past year (the largest 12-month increase since February 2019), while export air passenger fares decreased 5.8 percent for the year ended in August, despite increases in recent months.

These data are from the International Price program. To learn more, see "U.S. Import and Export Prices — August 2020." Also see more charts on import and export price trends. Import air transportation price data measure payments to foreign carriers by U.S. residents for international air transportation services. Export air transportation price data measure payments to U.S. carriers by foreign residents for international air transportation.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import air freight prices up 55.8 percent, passenger fares down 8.9 percent, over year ended August on the Internet at https://www.bls.gov/opub/ted/2020/import-air-freight-prices-up-55-point-8-percent-passenger-fares-down-8-point-9-percent-over-year-ended-august-2020.htm (visited October 25, 2020).

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