THE Philippine Ports Authority (PPA) said cargo volume in the fourth quarter rose 3.2%, driven by growth in foreign cargo.
Citing preliminary data, cargo throughput for the fourth quarter was 71.20 million metric tons (MMT), with foreign cargo accounting for 44.59 MMT.
In the three months to December, the PPA said it serviced 2.11 million twenty-foot equivalent units (TEUs) of container cargo, up 6.6% from a year earlier.
Overall, PPA said 2024 cargo throughput rose 6.26% to 289.52 MMT.
For 2024, container throughput rose 4.26% to 7.83 million TEUs.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said fourth quarter cargo volume growth can be attributed to the Christmas season, better weather and preparations for the midterm elections as government projects need to be completed before the election spending ban.
“For the coming months, midterm elections-related spending could still lead to more cargo and trading activity around the country,” Mr. Ricafort said via Viber.
However, this expected growth could be offset by looming import tariffs imposed by the US, Mr. Ricafort said.
The PPA said passenger traffic rose to 78.74 million in 2024, up 6.9%.
For 2025, the PPA projects cargo throughput of 301.47 MMT, up 4.5% from the 2024 target of 288.56 MMT.
The PPA is also expecting passenger traffic to grow by 9.5% to 85.41 million, compared with the 78-million target in 2024. — Ashley Erika O. Jose