PORT of Melbourne contributed more than $11 billion in economic activity to the Australian economy, according to its recently released ACIL Allen 2021-22 Economic Contributions report.
Port of Melbourne CEO Saul Cannon said the report affirms the port’s role as a key economic driver – handling more than one-third of the nation’s container trade.
“Operating 24 hours a day, 365 days per year the port handled 86% of Victorian origin exports and 87% of Victoria’s international imports. This included more than $32 billion in machinery and vehicles and $8 billion in footwear and clothes in 2021-22,” Mr Cannon said.
He said the Port of Melbourne has been a trade gateway for south-eastern Australia for more than 130 years.
“Port of Melbourne is proud of our role as custodian of the port, currently seven years into our 50-year lease from the Victorian Government. Total port container trade has grown by more than 25% over the past ten years to 2021-22,” he said.
“Port of Melbourne is a vital economic asset and a critical part of our state’s infrastructure. Our ongoing success is essential to the continued growth and prosperity of Victoria and Australia,” he said.
Meanwhile, the port reported a slowdown in container throughput in April.
According to the latest throughput data, total containers handled at Melbourne in April came to 246,542 TEU, a decrease of 3.9% on the same month last year.
Full overseas imports declined 4.8% in the period. Specifically, furniture; miscellaneous manufactures; non-electrical machinery; domestic appliances; clothing and toys; and sporting goods were below last year’s volumes.
Full overseas exports were down 3.4% on April 2022. Miscellaneous manufactures; pulp and wastepaper; paperboard; and packaged beef were below last year’s volumes.
And total empty container throughput in April was 5% below the same month last year.
