CANADIAN RAIL A DRIVER OF ECONOMIC GROWTHPosted on
As Marc mentioned in his note, Canada’s railways transport $320 billion worth of goods each year.
In fact, roughly half of Canada’s exports move by rail. This fall, that has included record grain shipments.
For a trading nation like Canada, rail is critical to our economic prosperity and future growth.
Speaking of growth, rail traffic, as measured in gross ton miles, grew by 25% over the past decade – a rate double that of Canada’s overall economy.
This would not have been possible without massive investments in track, vehicles, people and technology.
Canadian railways have invested more than $20 billion in supply chain capacity to improve fluidity over the last decade. That’s roughly 20-25 cents of every dollar earned reinvested into network improvements, year after year.
These private investments have produced innovations like high-capacity railcars, state-of-the-art locomotives, loop tracks at rail terminals, and predictive analytics. They are proof that rail is a driver of economic growth and a strong link in Canadian supply chains.
Ensuring Canada’s freight rail system remains healthy and strong is vital to Canada’s economic well-being.
With inflation rising and economic clouds looming, now is not the time for supply chain slowdowns or barriers to railway growth and investment.
Canadian railways are transporting more product with the best safety record in North America, all while keeping rates amongst the lowest anywhere – 18% lower than in the U.S., and at least 45% lower than in Germany, India, and Japan. Read on for more on rail freight rates.