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Import air passenger fares down 16.4 percent for the year ended in December

February 03, 2021

Import air passenger fares fell 16.4 percent for the year ended in December, as European fares declined 32.9 percent and Latin American/Caribbean fares declined 34.9 percent. Export air passenger fares advanced 4.4 percent over the past 12 months.

12-month percent changes for air passenger fares, December 2020
Category 12-month percent change

Import air passenger fares

-16.4%

Europe

-32.9

Asia

30.9

Latin America/Caribbean

-34.9

Export air passenger fares

4.4

Europe

-2.2

Asia

27.2

Latin America/Caribbean

-11.5

Import air freight prices advanced 75.8 percent from December 2019 to December 2020, the largest calendar-year increase since the data were first published in December 1990. Within the import air freight category, prices of European carriers increased 68.9 percent and prices at Asian carriers increased 95.7 percent. Export air freight prices rose 2.7 percent over the past year. Inbound air freight prices increased 46.7 percent, while outbound air freight prices advanced 4.7 percent for the year ended in December.

12-month percent changes for air freight, December 2020
Category 12-month percent change

Import air freight

75.8%

Europe

68.9

Asia

95.7

Export air freight

2.7

Europe

1.0

Asia

5.5

Inbound air freight

46.7

Europe

27.8

Asia

66.2

Outbound air freight

4.7

Europe

11.2

Asia

3.5

These data are from the International Price program. To learn more, see "U.S. Import and Export Prices — December 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. Data may be revised in each of the 3 months after original publication. We have fact sheets that explain more about measuring price changes for air passenger fares and air freight.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import air passenger fares down 16.4 percent for the year ended in December at https://www.bls.gov/opub/ted/2021/import-air-passenger-fares-down-16-4-percent-for-the-year-ended-in-december.htm (visited December 07, 2021).

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