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SINGAPORE AIRFREIGHT DIRECTORY 2019/2020 THE OUTLOOK OF THE AIR CARGO INDUSTRY REMAINS OPTIMISTIC, ESPECIALLY IN ASIA PACIFIC. THIS CAN BE ATTRIBUTED TO TWO KEY TRENDS. FIRST, WE SEE EMERGING GROWTH OPPORTUNITIES IN SOUTHEAST ASIA. WITH DYNAMIC AND GROWING POPULATIONS, COUNTRIES LIKE THAILAND AND VIETNAM ARE EMERGING AS STRONG MANUFACTURING HUBS. THIS WILL FUEL MORE AIR CARGO MOVEMENTS IN THE REGION. SECOND, THE RISING AFFLUENCE AND CONSUMPTION OF ASIA’S RAPIDLY GROWING MIDDLE CLASS AND THE INCREASED BUSINESS ACTIVITIES IN ASIA WILL DRIVE DEMAND FOR GOODS. DR LAM PIN MIN SENIOR MINISTER OF STATE FOR TRANSPORT World Cargo Symposium in Singapore on 12 March 2019. Developing in Sync with Global Industry Singapore Changi Airport – the most connected international airport in Asia and the eighth most connected airport globally – has developed in tandem with the airfreight industry. After a 7.9 per cent increase to reach a record 2.12 million tonnes in 2017, increase in air cargo traf c through Changi Airport moderated to 1.4 per cent in 2018 to reach 2.15 million tonnes. Transhipment volume accounted for almost half of the total throughput. In spite of near-term uncertainties, the outlook is good. Speaking at the opening of the World Cargo Symposium, Dr Lam Pin Min, Senior Minister of State for Transport, said, “The outlook of the air cargo industry remains optimistic, especially in Asia Paci c. This can be attributed to two key trends. First, we see emerging growth opportunities in Southeast Asia. With dynamic and growing populations, countries like Thailand and Vietnam are emerging as strong manufacturing hubs. This will fuel more air cargo movements in the region. “Second, the rising af uence and consumption of Asia’s rapidly growing middle class and the increased business activities in Asia will drive demand for goods. Fast-growing verticals like e-commerce, pharmaceuticals and perishables will continue to grow strongly as a result of the expanding middle class. These cargo verticals require strong air cargo hubs with ef cient and quality cargo handling.” For the current year though, cargo handled through Changi Airport is continuing to moderate. As a trading nation, with the highest trade-to-GDP ratio in the world, Singapore is feeling the sharp end of the anti-globalisation rhetoric and ongoing trade friction between the United States and China, dealing a blow to its export gures. Enterprise Singapore expects non-oil domestic exports (NODX) for 2019 to 8