Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Canadian containerized imports forecast to grow at faster clipTuesday, June 23, 2015 > 10:14:38
Despite economic headwinds from the drop of oil prices and the resulting decline in consumer confidence, Canadian containerized imports are slated to rise 4 percent this year compared to last year, according to World Trade Services, a sisterproduct of JOC.com within IHS Maritime & Trade.
Inbound containerized traffic through Canadian ports increased 3 percent year-over-year in 2014, thanks largely to a 12 percent boost in European imports, particularly of beer, transportation equipment and parts, and chemicals. Germany and Italian exports to Canada grew the most, expanding 11 percent and 10 percent, respectively. Although China imports only rose 1 percent in 2014, WTS forecasts Canadian exports will expand 5 percent year-over-year in 2015.
The growth in European imports in 2014 helped offset year-over-year declines in inbound containerized trade from India, down 2 percent; Japan, down 3 percent; and Central American, which slipped 2 percent.
After expanding 3 percent in 2014 from 2014, Canadian containerized export growth is expected to increase 5 percent this year, according to WTS. Weak demand from Japan and Russia put a crimp on Canadian export growth last year, pulling down shipments to each respective market by 11 percent and 12 percent. Canadian exports to China rose 13 percent in the same period.