The global air freight industry has been suffering from low capacity since the beginning of 2020 when lockdowns across nations began. This included border closures and flights being grounded. Despite this and the ongoing conflict in Ukraine, Vietnam’s air freight industry has shown signs of quick recovery and significant growth potential.
The aviation sector is one of the key factors behind the economic resurgence in Vietnam. According to IATA, the air transport sector has created over 2.2 million jobs and contributes approximately $12.5 billion to Vietnam’s GDP.
As normality has returned globally with borders reopening and very few covid restrictions remaining demand for international transport by air has soared.
Despite a still sluggish domestic market, international air freight has surged by more than 21% compared to 2021.
Vietnam is SE Asia’s manufacturing powerhouse, from mobile phones, textiles and IT components, it is rapidly increasing its global market share across multiple sectors and increasing demand for air and sea freight solutions.
At TCB Group we help companies export from Vietnam, via Air and LCL freight from our SE Asia hub in Singapore. We have vast experience in SE Asia exports and imports completing shipments for companies all across the region looking after them from one central location.