Melbourne’s import/export industry experienced a booming 2024, and recent statistics released by the Port of Melbourne have shown last year set a new record for the highest annual container trade volume ever recorded at the site.
The port saw a total of 3.396 million twenty-equivalent unites (TEUs), which marks an increase of over nine per cent on 2023 figures.
The strengthening of Victoria’s container trade was driven by increased demand for the import of consumer goods like furniture, and favourable weather conditions resulting in a strong year for agricultural commodities.
“Port of Melbourne holds a critical position as the trade gateway for southeastern Australia and beyond,” Port of Melbourne CEO Saul Cannon says.
“The significant growth in container trade underpins economic activity in Victoria and reflects the state’s diverse business landscape.
“We are proud to facilitate the export of agricultural goods, working with growers, shipping lines, and other port users to bring our region’s finest products to the world.”
Port of Melbourne handles over one third of Australia’s container trade and is the country’s largest general cargo and container port.
Cannon says the expectation is the rising demand for container trade in the port will continue.
“There is a positive and promising trend in trade through Port of Melbourne,” he says. “We have observed a growth in total trade volumes, including container trade, which is predicted to continue rising.”
With that rising demand, container trade through Port of Melbourne is expected to double within the next 30 years.
Committee for Melbourne Chief Executive Scott Veenker says the continued strengthening of Victoria’s supply chains will be crucial in keeping up with the expected demand increases.
“Port of Melbourne’s exceptional performance in facilitating record container trade underscores its pivotal role as Australia’s premier trade gateway,” Veenker says.
“It is crucial to maintain and enhance Victoria’s policy and planning settings to continue growing our supply chains and maximising trade opportunities, ensuring the prosperity of the port, Melbourne and Victoria.”
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