Heathrow export values increase despite falling throughput

Cargo throughput at Heathrow has remained relatively unchanged, but the value of UK exports via Heathrow has increased 9.7 percent over a 12-month period.    London’s Heathrow airport posted a cargo throughput of 132,575 metric tons for October, a 1.4 percent decline from Oct. 2014.
   During the first 10 months of 2015, the airport handled 1.24 million metric tons of cargo and on a rolling 12-month basis, the airport handled 1.50 million metric tons of cargo, a year-over-year increase of 0.1 percent and 0.8 percent, respectively.
   Although cargo volumes have remained relatively unchanged, the value of UK exports via Heathrow has increased 9.7 percent over a 12-month period. Vaccines for medicine are experiencing skyrocketing growth, brought about by recent world health crisis, and China’s demand for UK products is continuing to rise.
   Vaccines for human medicine are the UK’s sixth most valuable export via Heathrow, which comes after precious metals, aircraft turbojets, jewelry, medicaments and paintings and drawings.
   The top five UK export destinations by value via Heathrow are the United States, China, Hong Kong, the United Arab Emirates and India.
   Over 7 billion euros (U.S. $7.54 billion) worth of British goods were exported to China via the airport between Aug. 2014 and July 2015, a 117 percent increase on the previous 12 months. “If Heathrow had unconstrained capacity, the value of Britain’s exports to China via the airport would overtake the USA as the biggest destination within two years,” the airport said.
   Last week, Heathrow unveiled plans to double its cargo throughput by the year 2030. “Cargo is essential for UK PLC and Heathrow is its global freight connector, with 26 percent of all UK goods by value going through the airport,” Heathrow CEO John Holland-Kaye said at the BCC conference last week. “This investment plan will significantly improve our cargo facilities and support British businesses to keep the economy moving, connecting exporters to the world and helping the government reach its 1 trillion euro export target by 2020.”