The historical data for sea container transport in Canada, expressed in Twenty-Foot Equivalent Millions, reveals a steady increase from 2013 to 2023. The value stood at 7.4505 in 2023, marking a year-on-year increase of 2.47% from 2022. Over the past two years, the growth rate was 2.56% and 2.47%, indicating moderate growth. The compound annual growth rate (CAGR) over the last five years (2018-2023) was 2.09%, showing a deceleration compared to earlier periods.
Future trends indicate continued but slower growth with the forecast for 2028 showing a 5-year CAGR of 1.76% and a forecasted growth rate of 9.11% from 2023 to 2028. This suggests sustained, albeit slower, expansion in sea container transport.
Trends to watch for:
- Impact of global trade policies and geopolitical tensions
- Technological advancements in logistics and shipping
- Environmental regulations affecting shipping practices
- Economic fluctuations and their influence on trade volumes
