PANAMA CITY, Reuters – More than half a million tonnes of goods were moved by the Panama Canal in the past year, the Canal’s highest official stated on Thursday. This is a new record for this important global waterway, as trade has increased.

Ricaurte Vasquez (administrator of Panama Canal Authority) told reporters that 517.7 million tonnes worth goods passed through this century-old waterway over the course of the webcast news conference. This was in addition to the 221 fiscal years which ended September.

He said that it had been an “exceptional year” and noted that the canal was first to transport more than 500,000,000 tonnes of goods in the 12 month stretch.

The 2021 fiscal year’s haul is about 3.5%. It was ferried by massive cargo vessels through the trans-oceanic canal of 50 miles (80km).

Vasquez said that Vasquez was able to break the record by using larger vessels with more cargoes and sharp growth in Asia-bound liquefied gas, or LNG.

Vasquez stated that the 2022 fiscal year which started at the beginning of the month will see more goods transiting through the canal. This is an increase of 535 millions tonnes.