As Canadian shoppers tighten their belts, Vancouver port shipments plummet

September 26, 2023

The number of shipping containers passing through Canada's largest port fell sharply in the first half of the year, driven down by weaker consumer demand and a sputtering economy.

Container volumes at the Port of Vancouver fell 14 per cent in the first six months of 2023 compared with the same period a year earlier, the Vancouver Fraser Port Authority said Monday.

In a phone interview, interim CEO Victor Pang said the figures reflected a stalling economy, which contracted slightly in the second quarter.

"There's some economic softness, overall and for Canada. And you're seeing that through our container numbers,'' Pang said, noting that the decline was not unique to Canadian ports...

This was excerpted from the 26 September 2023 edition of CBC News.

Topic(s)

International Trade and Border Management

Information source

Canadian News Channel

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