The Great Lakes waterborne freight volume in the US stood at 79.23 million short tons in 2023. The data reveals a fluctuating trend with notable declines in certain years such as 2015 and a significant drop in 2020, followed by recovery. The CAGR for the past five years indicates an average annual decrease of 0.8%. From 2024 onwards, the forecast suggests a gradual decline, averaging a CAGR of -0.65% with a projected overall decrease of 3.22% by 2028.
Future trends to watch for include potential impacts of climate change on lake levels, shifts in regional industrial activities, and developments in trade policies affecting freight movements. Monitoring technological advancements in shipping logistics and infrastructure investments will also be critical in understanding future volume trends in the Great Lakes area.
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