Middle East freight market growth dips amid low oil

The Middle East air freight market grew by less than half its average year-to-date growth rate in November 2015 as low oil prices weigh on regional economies, the International Air Transport Association (IATA) said Monday.

The market expanded by 5.4 per cent in November last year compared to the same month in 2014. This compares to the 11.9 per cent average growth rate the region has recorded year-to-November.

Still, the Middle East is better off than the global industry, which contracted by 1.2 per cent in November.