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January to May cargo volumes in the Philippines grew 5.3% year-on-year, according to the Philippine Ports Authority
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Domestic cargoes rose 5.4% to 43.367 million mt from 41.159 million mt
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Foreign cargoes likewise increased 5.3% to 67.235 million mt from 63.881 million mt
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PPA is eyeing a 10% to 13% year-on-year growth in cargo volumes this year, driven by domestic cargoes
January to May 2024 cargo volumes in the Philippines grew 5.3% year-on-year, according to preliminary data provided to PortCalls by the Philippine Ports Authority (PPA).
Ports under PPA jurisdiction handled 110.602 million metric tons (mt) in the first five months of the year, higher than the 105.04 million mt recorded in the same period last year.
READ: PH ports handle 2.5% more cargo in Q1
Of the total, foreign cargoes accounted for 61% while domestic shipments had a 39% share.
Foreign cargoes increased 5.3% to 67.235 million mt from 63.881 million mt last year.
Domestic cargoes likewise rose 5.4% to 43.367 million mt in January-May 2024 from 41.159 million mt in the same period last year.
Imports saw a 3% year-on-year improvement to 42.574 million mt while exports surged 9.4% year-on- year to 24.661 million mt.
PPA general manager Jay Daniel Santiago in a press briefing on July 9 said they are eyeing a 10% to 13% year-on-year growth in cargo volumes this year. The growth is expected to come from domestic cargoes, which Santiago noted are “very dynamic, very robust.”
Ports under PPA’s jurisdiction handled 272.46 million mt in 2023, 5.14% higher than the 259.13 million mt recorded in 2022. – Roumina Pablo
READ: Cargo volume handled by Philippine ports grew 5% in 2023
