The value added of transportation and storage in Canada stood at 113.22 Billion Canadian Dollars in 2023. Historically, the sector has shown relatively consistent growth from 2013 to 2019, with a notable dip in 2020 due to COVID-19 impact, followed by a rebound starting in 2021. The year-on-year variation reflects fluctuations with a recovery evident post-2020, growing at an average annual rate (CAGR) of 3.42% for the past five years leading up to 2023.

Looking ahead, the forecasted data from 2024 to 2028 indicates steady growth, projecting a CAGR of 2.37% for the next five years, culminating in a total growth rate of 12.41% by 2028.

Future trends to watch for:

Technological advancements like the adoption of automation and AI in logistics.
Sustainability initiatives impacting transportation practices and storage solutions.
Macroeconomic factors potentially affecting consumer demand and trade policies.