Taoyuan Airport Cargo Throughput Analysis – April 2025

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Summary of Key Findings:

  1. Overall Performance:
    April recorded a month-on-month growth of 8.5% and a cumulative year-on-year growth of 8.8%. The U.S. tariff delay announced on April 10 (90-day postponement) triggered even stronger front-loading activity compared to Q1.

  2. Export/Transshipment by Country:
    Exports grew 25% YoY, reaching the highest level in the past 33 months. Notably, exports to the U.S. surged by 40%, confirming the strong front-loading effect driven by tariff concerns.

  3. Global Trend:
    Global cargo capacity in March returned to positive territory after turning negative in the previous month. Both the global PMI and new export orders showed expansion, indicating increased global shipment demand.

  4. Taiwan Market Trend:
    Taiwan’s April PMI showed a reversal, with declining new export orders and rising customer inventory levels—suggesting weaker shipment prospects in the coming months.

  5. Conclusion:
    While exports to the U.S. showed a significant surge in April, forward-looking indicators such as PMI suggest a potential decline in cargo volume in the near future.