Traffic over Mexican ports grows 5.5% in 2016; outpaces its NAFTA partners
Despite a weakening peso, gas price hikes, and transportation-link blockades cargo volumes through Mexican ports increased by 5.5% in 2016, according to a report by Journal of Commerce magazine citing figures by the Mexican Secretariat of Communications and Transport, which oversees the port system.
The rate is higher than U.S. ports, which grew by 3.3% and likely more than Canada. “Although national figures for Canadian ports are not available, laden volumes through four of the country’s largest ports — Vancouver, Montreal, Prince Rupert, and Port Saint John — grew by just over 0.5 percent,” says the article by JOC.
The 5.5% growth results from 4.1 million loaded twenty-foot-equivalent (TEU) containers handled in Mexican ports through 2016, up from 3.9 million TEUs in 2015, according to the official figures.
“The volume of loaded containers imported into Mexico, which accounts for about 60 percent of Mexico’s loaded container volume, increased by 5 percent year-over-year in 2016 as loaded exports increased by 6 percent. The figures were driven in part by strong volume growth at the largest Gulf Coast port, Altamira, and at Lazaro Cardenas on the Pacific Coast, while volume slowed at the nation’s busiest container port, Manzanillo,” says the report.