Panama Canal Sees Falling Cargo Volumes Ahead

By Milagro Vallecillos

PANAMA CITY, March 8 (Reuters) – The amount of cargo passing through the Panama Canal is expected to shrink this fiscal year, the canal’s top authority said on Wednesday, with experts warning lower volumes could hurt Panama’s economy.

Canal Administrator Ricaurte Vasquez said the institution forecasts just 500 million tonnes of goods passing through the 50-mile (80-km) trans-oceanic waterway in the 2023 fiscal year, some 10.3 million less than the previous forecast.

View entirety: Reuters