DHL Hong Kong Air Trade Leading Index ("DTI") is a quarterly survey implemented by the Hong Kong Productivity Council ("HKPC"), and commissioned by DHL Express (Hong Kong) Limited ("DHL").
DTI is the first-of-its-kind in Hong Kong, offering publicly available market intelligence for local enterprises, especially SMEs which typically have limited resources or access to information, enabling all to take reference from a comprehensive business review of the sector in which they operate.
The Overall Index represents the air trade market outlook for the surveying quarter, in respect of import and (re-)export. The research also studies the underlying trends in business attributes, markets and air-freighted commodities, thus assisting local enterprises in arriving at a primed view of the business outlook of their markets.
DTI – First Quarter of 2025
Release Date: 20 Jan, 2025

REPORT SUMMARY
The Air Trade landscape in Q1 2025 slightly improved, particularly in the Asia Pacific region, despite ongoing challenges in the Americas and modest recovery in Europe. Additionally, 45% of local air traders perceived opportunities in the Middle East.
- The Overall Air Trade Index saw a slight improvement, primarily driven by growth in the Asia Pacific region, as well as Electronic Products & Parts, and Imports.
- The Asia Pacific and Europe indices recorded increases of 6 points and 1 point respectively when compared with Q4 2024, whereas the Americas index experienced a significant decline of 8 points.
- Although less than one-tenth of local air traders reported a better-than-expected traditional peak season in 2024, nearly one-fourth expected better number of orders in the pre-Chinese New Year period in 2025 compared to the previous year.
- As Donald Trump will be taking office as the US president on 20 January 2025. The China-US relations and the trade environment with the US remain uncertain. The results showed that 76% of local air traders decided to closely monitor the situation with no measures to make at this stage, while 21% of local air traders will explore other markets.
- Regarding the opportunities in new markets, 45% of local air traders saw potential in the Middle East market, followed by Eastern Europe (33%) and Latin America (31%).
- Additionally, 76% of local air traders are willing to engage in carbon reduction initiatives; among those, 12% indicated a willingness to pay more than 11% of their logistics costs to achieve this mission.
- The B2C index experienced a significant increase, rising from 40.5 to 45.9. Air traders anticipated stronger sales volumes and greater product variety, while shipment urgency remained stable.
Mr Edmond LAI, Chief Digital Officer of HKPC, commented, “The air trade index slightly picked up 1.2 points, driven by the improvement observed in imports. Despite fewer than 10% of local air traders experiencing a better-than-expected peak season in 2024, 22% anticipate improved order volumes for the pre-Chinese New Year period in 2025 compared to the previous year. Yet, amid the uncertainties arising from the transition of the US presidency, the Americas’ index dropped significantly by 8 points, with all commodity indices in the region experiencing declines of varying magnitudes, except for Gifts, Toys & Houseware. Most air traders (76%) have opted to closely monitor the situation without taking immediate action at this stage, while 21% are interested in exploring other markets. Among potential markets, air traders perceived the Middle East as having the most promise.
It is noteworthy that the Product Variety sub-index has ranked at the top since the second half of 2023, while Sales Volume remained flat. This reflects the emergence of a new trend ‘greater variety in fewer quantities’, where small order volume and customisation have become the new norm. This shift indicates that large-scale production is no longer the most effective strategy in today's market. Air traders are advised to realign their strategies to adapt to this evolving trend to fit the market dynamics. HKPC will assist enterprises, particularly SMEs, navigate this transition by ensuring sustained competitiveness and growth in the dynamic global marketplace. This will be achieved through a series of support measures encompassing six key services to help SMEs address operational challenges, enhance confidence, and increase their overall competitiveness.”
Download the latest report of DTI (PDF version) (Text-only version).
Download of DTI Quarterly Report
Quarter | Release Date |
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DTI – First Quarter of 2024 (PDF version) DTI – First Quarter of 2024 (Text-only version) | Jan 20, 2025 |
DTI – Fourth Quarter of 2024 (PDF version) DTI – Fourth Quarter of 2024 (Text-only version) | Oct 24, 2024 |
DTI – Third Quarter of 2024 (PDF version) DTI – Third Quarter of 2024 (Text-only version) | Jul 22, 2024 |
DTI – Second Quarter of 2024 (PDF version) DTI – Second Quarter of 2024 (Text-only version) | Apr 18, 2024 |
DTI – First Quarter of 2024 (PDF version) DTI – First Quarter of 2024 (Text-only version) | Jan 18, 2024 |
DTI – Fourth Quarter of 2023 (PDF version) DTI – Fourth Quarter of 2023 (Text-only version) | Oct 19, 2023 |
DTI – Third Quarter of 2023 (PDF version) DTI – Third Quarter of 2023 (Text-only version) | Jul 20, 2023 |
DTI – Second Quarter of 2023 (PDF version) DTI – Second Quarter of 2023 (Text-only version) | Apr 27, 2023 |
DTI – First Quarter of 2023 (PDF version) DTI – First Quarter of 2023 (Text-only version) | Jan 17, 2023 |
DTI – Fourth Quarter of 2022 (PDF version) DTI – Fourth Quarter of 2022 (Text-only version) | Oct 20, 2022 |
DTI – Third Quarter of 2022 (PDF version) DTI – Third Quarter of 2022 (Text-only version) | Jul 21, 2022 |
DTI – Second Quarter of 2022 (PDF version) DTI – Second Quarter of 2022 (Text-only version) | Apr 21, 2022 |
DTI – First Quarter of 2022 (PDF version) DTI – First Quarter of 2022 (Text-only version) | Jan 20, 2022 |
DTI - Fourth Quarter of 2021 (PDF version) DTI - Fourth Quarter of 2021 (Text-only version) | Oct 20, 2021 |
DTI - Third Quarter of 2021 (PDF version) DTI - Third Quarter of 2021 (Text-only version) | Jul 20, 2021 |
DTI - Second Quarter of 2021 (PDF version) DTI - Second Quarter of 2021 (Text-only version) | Apr 20, 2021 |
DTI - First Quarter of 2021 (PDF version) DTI - First Quarter of 2021 (Text-only version) | Jan 28, 2021 |
DTI - Fourth Quarter of 2020 (PDF version) DTI - Fourth Quarter of 2020 (Text-only version) | Oct 22, 2020 |
DTI - Third Quarter of 2020 (PDF version) DTI - Third Quarter of 2020 (Text-only version) | Jul 23, 2020 |
DTI - Second Quarter of 2020 (PDF version) DTI - Second Quarter of 2020 (Text-only version) | Apr 27, 2020 |
DTI - First Quarter of 2020 (PDF version) DTI - First Quarter of 2020 (Text-only version) | Feb 5, 2020 |
DTI - Fourth Quarter of 2019 (PDF version) DTI - Fourth Quarter of 2019 (Text-only version) | Nov 4, 2019 |
DTI - Third Quarter of 2019 (PDF version) DTI - Third Quarter of 2019 (Text-only version) | Jul 31, 2019 |
DTI - Second Quarter of 2019 (PDF version) DTI - Second Quarter of 2019 (Text-only version) | Apr 29, 2019 |
DTI - First Quarter of 2019 (PDF version) DTI - First Quarter of 2019 (Text-only version) | Jan 25, 2019 |
DTI - Fourth Quarter of 2018 (PDF version) DTI - Fourth Quarter of 2018 (Text-only version) | Nov 6, 2018 |
DTI - Third Quarter of 2018 (PDF version) DTI - Third Quarter of 2018 (Text-only version) | Jul 31, 2018 |
DTI - Second Quarter of 2018 (PDF version) DTI - Second Quarter of 2018 (Text-only version) | May 2, 2018 |
DTI - First Quarter of 2018 (PDF version) DTI - First Quarter of 2018 (Text-only version) | Jan 31, 2018 |
DTI - Fourth Quarter of 2017 (PDF version) DTI - Fourth Quarter of 2017 (Text-only version) | Nov 1, 2017 |
DTI - Third Quarter of 2017 (PDF version) DTI - Third Quarter of 2017 (Text-only version) | Jul 27, 2017 |
DTI - Second Quarter of 2017 (PDF version) DTI - Second Quarter of 2017 (Text-only version) | Apr 28, 2017 |
DTI - First Quarter of 2017 (PDF version) DTI - First Quarter of 2017 (Text-only version) | Jan 25, 2017 |
DTI - Fourth Quarter of 2016 (PDF version) DTI - Fourth Quarter of 2016 (Text-only version) | Nov 11, 2016 |
DTI - Third Quarter of 2016 (PDF version) DTI - Third Quarter of 2016 (Text-only version) | Aug 8, 2016 |
DTI - Second Quarter of 2016 (PDF version) DTI - Second Quarter of 2016 (Text-only version) | May 13, 2016 |
DTI - First Quarter of 2016 (PDF version) DTI - First Quarter of 2016 (Text-only version) | Feb 19, 2016 |
DTI - Fourth Quarter of 2015 (PDF version) DTI - Fourth Quarter of 2015 (Text-only version) | Nov 16, 2015 |
DTI - Third Quarter of 2015 (PDF version) DTI - Third Quarter of 2015 (Text-only version) | Aug 11, 2015 |
DTI - Second Quarter of 2015 (PDF version) DTI - Second Quarter of 2015 (Text-only version) | May 7, 2015 |
DTI - First Quarter of 2015 (PDF version) DTI - First Quarter of 2015 (Text-only version) | Feb 6, 2015 |
DTI - Final Quarter of 2014 (PDF version) DTI - Final Quarter of 2014 (Text-only version) | Nov 12, 2014 |
Methodology

Index Calculation: Index = [100 x (Percentage of samples responding "Positive") ] + [50 x (Percentage of samples responding "Neutral") ] + [0 x (Percentage of samples responding "Negative") ]
Readings

- Ratios of collected responses are used to form the indices.
- An index value above 50 indicates an overall positive outlook while a reading below 50 represents an overall negative outlook for the surveyed quarter.
- The further the reading is from 50, the more positive or negative the outlook is.
Demographics
- Respondents are Hong Kong-based companies with either inbound or outbound air trade. It includes Watches, Clocks & Jewellery, Apparel & Clothing Accessories, Electronic Products & Parts, Gifts, Toys & Houseware, Food & Beverage and Others (including courier items and other items that do not belong to the categories listed above).
- Over 600 samples are collected in each quarter.
- Sample companies are randomly selected from publicly available directories.
Disclaimer
This report contains survey result based on research findings. HKPC will not be liable for any loss, mistake, delay, action or non-action by viewers of this report.
Enquiry
For more details about the Index, please contact HKPC at tel. (852) 2788 5306.
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