The import of passenger and goods transport ships and boats to Canada has shown fluctuations since 2013, with significant variation annually. The value of imports rose sharply in 2013 but then experienced a substantial decline in 2014. From 2015 to 2017, imports saw increases and drops, peaking in 2017 before dropping again in 2018. Subsequent years from 2019 showed a more stable pattern with moderate growth and a slight downfall in 2020. The values for 2021, 2022, and 2023 showed a steady increase. As of 2023, the import value stood at $517.44 million.
Between 2022 and 2023, the year-on-year variation was 2.93%. The 5-year CAGR from 2018 to 2023 was 4.06%, denoting moderate growth. The forecast for the next five years suggests a continuing upward trend with an average annual growth rate of 2.2%, amounting to a total growth of 11.47% by 2028.
Future trends to watch for include potential impacts of global economic shifts on the marine transport industry, advancements in shipbuilding technologies, and changes in Canada's trade policies, which may influence import volumes and values in the coming years.
