Cargo traffic volume in the Philippines last year exceeded the pre-pandemic level in 2019 driven by growth in both the domestic and foreign cargo services, according to the latest data from the Philippine Ports Authority (PPA).
PPA data showed cargo throughput grew 5 percent to 271.9 million metric tons (MT) in 2023 versus 259.14 million MT in 2022.
Compared to the 265.9 million MT cargo throughput just before the pandemic, it was up by 2.3 percent.
Domestic cargo was slightly up to 98.9 million MT last year from 98.3 million MT the prior year, while foreign cargo rose by 8 percent to 173.06 million MT from 160.8 million MT.
Meanwhile, container traffic volume was down by 5 percent to 7.49 million twenty-foot equivalent units (TEU) from 7.9 million TEUs in 2022, PPA said.
Sea passenger volume increased by 24 percent to 73.6 million last year from 59.2 million passengers recorded in the previous year. Still, it is lower than the pre-pandemic level with 83.7 million passengers.
From January to October last year, PPA reported a total revenue of P21.06 billion, a 30 percent growth over the same period during the previous year, due to higher volumes of cargo and vessel income.
Its net income amounted to P9.76 billion, 15 percent higher than in 2022.
PPA said it is ramping up the implementation of 74 locally funded port projects nationwide, of which 36 are located in Luzon, 19 in Visayas and 19 in Mindanao.
These projects include the P902.09-million upgrading of the general cargo berth by the Port Management Office of Davao in Sasa; P886.7-million port expansion and restoration project in Currimao, Ilocos Norte; P818.59-million Capinpin port expansion project; and the Port Management Office Bohol in Catagbacan for P693.56 million, among others.
