Panama‘s ports and the Panama Canal have shown a growing trend in their operations through 2022, according to information from the Panamanian government.
On the one hand, in 2022, the Manzanillo International Terminal (MIT) handled approximately 2.7 million TEUs of cargo and containers, compared to approximately 2.8 million TEUs in 2021.
In 2022, the Colon Container Terminal handled approximately 1.4 million TEUs of cargo and containers, while in the previous year the volume was 1.1 million TEUs.
Ports and the Panama Canal: trend
Financial information
The Panama Canal plays an important role in the Panamanian economy.
On average, from FY2018 to FY2022, Canal transits increased 1.1% y/y and cargo tonnage increased 4.0% y/y.
Factors such as the development of alternative land routes and the increase in the size of vessels that can transit the Canal have contributed to the decrease between 2018 and 2022 in the number of vessels required to transport cargo.
On average, from FY2018 through FY2022, toll revenues increased 6.3% annually, primarily due to an increase in toll rates.
The following table shows the Canal’s statistical and financial information for fiscal years 2018 through 2022 (each ended September 30):
