The Philippine Ports Authority (PPA) said it expects cargo traffic to further rise on the back of the improving global trade and the upcoming Christmas holidays.
The state-run agency said cargo traffic rose 4.6 percent to 227.12 million metric tons (MT) in the first 10 months of the year from last year’s 217.33 million MT.
Foreign cargo rose 6.5 percent to 145.16 million MT from 138.24 million MT as exports volume jumped 11.4 percent to 60.82 million MT from 54.57 million MT. Imports inched up by 3.3 percent to 84.34 million MT from 81.57 million MT.
Domestic cargo traffic rose 1.1 percent to 81.95 million MT from 81.08 million MT.
The PPA traced the increase in cargo volume to higher shipment of coal in Panay/Guimaras, particularly in Semirara Mining and Power Corporation Port.
It said the other factors behind the rise in cargo traffic were increased shipment of breakbulk and bulk cargo in Batangas Port, higher outbound cargoes from private port volume of sand recorded at the Port of Currimao as well as higher supply of coconut oil at the Mauban Port.
PPA also reported a 1.34-percent increase in foreign containers handled to 4.08 million twenty-foot equivalent units (TEUs) in the 10-month period from last year’s 4.03 million TEUs.
Imports slightly increased to 2.04 million TEUs from 2.03 million TEUs during the period, particularly at the Manila International Container Terminal (MICT) and the port management offices in Batangas and Davao.
Exports went up by 2.3 percent to 2.04 million TEUs from 1.99 million TEUs, fueled by increases in the volumes handled at MICT as well as the ports in Davao and Cagayan de Oro.
The World Trade Organization (WTO) sees world merchandise trade volume growing at a slower pace of 0.8 percent this year before bouncing back with a faster increase of 3.3 percent next year.
Rising inflation and high interest rates, particularly in the United States and the European Union, would continue to pose challenges to the global economy, it said.