Canada Freight Transport and Shipping Report Q2 2016
BMI View: Road freight will once again lead the way in terms of y-o-y growth in the Canadian freight mixin 2016, a scenario we envisage to remain the same over our medium-term forecast period. Canada willonce more trade primarily with the US and signs of economic recovery in the US should have a positiveeffect on demand for the country's goods, while second to the US is China, whose slowdown in growth iscause for slight concern for freighters in Canada.
Forecast And Latest Updates
Canada's total trade in real terms is set to grow by 3.20% in 2016, with exports leading the way ahead ofimports. We recently observed that consumer goods and autos exports have overtaken energy products asthe main export commodity in value terms, reflecting sharply lower oil prices on the one hand, and risingdemand for manufactured goods on the other (see 'Gradual Rebalancing Will See Current AccountDeficit Narrow', October 5).
As mentioned above, road freight will see the highest rate of y-o-y growth in 2016, at 3.79%, aheadof rail freight (2.98%), inland waterway freight (1.47%) and air freight (0.90%).
Canada's largest port, Port Metro Vancouver is set to see y-o-y growth of 3.01% in tonnage throughput in2016, while container throughput is forecast to come in at 7.09%.
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