The Bureau of Customs ((BOC) collected revenues of P34.16 billion in October, its highest-ever monthly take for the year, representing a 22.6% jump from P27.86 billion year-on-year. The uptick is on account of continued growth in volume and value of imports and despite challenges brought about by congestion in Manila’s ports, the agency said.
Against the monthly target of P36.81 billion, the latest figure, however, came up 7.2% short.
Cash collections grew 28.5% in October. A surge in consumer demand and clearing out of shipments at the ports propelled a 31.8% increase in import volume. In addition, BOC said improvements in its processes and continued reforms resulted in a 34.4% growth in valuation of goods and a 30.17% hike in collection of duties and taxes.
From January to October 2014, total revenue reached P299.95 billion, 18.6% higher than the P252.88 billion recorded in the same period last year.
With only two months to go before the end of the year, BOC must collect P108.15 billion for November and December, or P54.075 billion per month, for the agency to hit P408.1-billion target for 2014.
Exceeding their target collections for October were the ports of Batangas, Iloilo, Cebu, Cagayan de Oro, Davao, Subic and Aparri.
Manila International Container Port contributed the most revenue at P9.7 billion. It was followed by Batangas, which took in P8.38 billion, replacing the Port of Manila (P5.66 billion) in second spot.
Batangas and Subic ports have recently seen greater use, thanks to the Manila port congestion. The container logjam in Manila, resulting from the Manila daytime truck ban, has pushed more shippers to utilize Batangas and Subic as alternative ports, in turn pushing theur . – Roumina Pablo
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