From 2013 to 2023, Canada saw a consistent decline in transport services exports, culminating in a significant drop during the COVID-19 pandemic (2020). Despite a brief recovery in 2022 (9.94% increase from 2021), the general downward trend continues into 2023 with an 8.17% decrease in value. The 5-year CAGR ending in 2023 is -5.4%, indicating persistent decline. Forecasts show a further gradual decline with the 5-year forecast CAGR being -0.74% and the forecasted average year-on-year growth rate at -3.64% from 2024 to 2028.
Future trends to watch include adaptability to global trade dynamics, technological advancements in transport services, and policy changes aimed at boosting export efficiency.
