Philippines' Q1 cargo volume up 31pc on increased imports
STATISTICS from the Philippine Ports Authority (PPA) shows cargo throughput from January to March stood at 77 million metric tonnes (MT) compared with 58.7 million MT in the same period last year, an increase of 31 per cent driven by the surge in imports.
Of the total throughput in the first quarter, domestic cargo accounted for 23.9 million MT and foreign cargo, 53.3 million MT, with import at 44.5 million and export at 8.8 million MT.
The cargo throughput comprised the total volume of cargo discharged and loaded at the port. It includes breakbulk, liquid bulk, dry bulk, containerized cargo, transit cargo and transshipment.
Container traffic volume in the first quarter of the year rose 5.3 per cent to 1.99 million TEU, from 1.89 million TEU in the same period last year.
For 2023, PPA is targeting to achieve 7 to 8 per cent growth in cargo volume despite the high inflation, reports Malaya Business Insight.
source:SchedNet
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