PayCargo and the value of air freight
According to the International Air Transport Association (IATA), the value of air cargo represents 35 per cent of global trade, with 52 million metric tonnes of cargo shipped each year ranging from pharmaceuticals to food and electronic equipment.
In a 24 hour period, $18.6 billion worth of cargo is transported by air, including over 80,000 flowers, 1.1 million smartphones, and more than 200 race horses.
At a more serious level, each year 2.5 million lives are saved through the delivery of vaccines and medicines, and 62,500 tonnes of humanitarian aid is delivered by air.
Impressive figures, but how are they related to PayCargo?
As an online payment platform, PayCargo is simplifying the payment process and eliminating the need for checks and wire transfers, which is helping to speed up the movement of shipments around the world.
For example, if a shipment of vaccines can be released within one hour of a payment notification being received, that means medical practitioners can receive and administer the vaccinations quicker.
Similarly, if there are any delays to releasing humanitarian aid cargo, it will have an impact on the organisations that are waiting to distribute the aid, as well as the people in need of emergency assistance.
By providing a platform where payments can be processed quickly and securely, PayCargo is helping other organisations to effectively do their job, whether that means delivering vital aid or shipping expensive equipment for an important event.
This makes the humble payment platform a very valuable tool and one that we should all be using for the future success of the air cargo industry.
On a final note, here are a few more interesting facts from IATA about the value of air cargo:
- USA exports 121.7 million gallons of wine each year, worth $1.61 billion
- Air cargo transports more than 120,000 tonnes of Kenyan flowers each year
- Formula 1 transports 300 tonnes of equipment by air each season
- 1 tennis ball is created by transporting materials from 14 countries
- There are 3,200 airports worldwide and 60,000 trade lanes
- On Single’s Day, 657 million packages worth $17.8 billion are shipped