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Vancouver cargo slips 5.9pc, boxes fall 6.6pc to 1.66 million TEU
THE Port of Vancouver first half total cargo volume fell 5.9 per cent year on year to 66 million tonnes, according to port authority statistics, reports Bloomberg News.
Year to date container volume to July came to 1.66 million TEU in the first seven months of 2016, down 6.6 per cent year on year.
Of that 854,521 TEU were import boxes, down 6.2 per cent, and 624,812 TEU were exports, down 0.4 per cent.
Empties, both import and export came in at 24,366 TEU, up 26.8 per cent year on year.
Hit by weak industrial activity at home and slackening demand for commodities in Asia, tonnage figures were another sign of trouble for Canada抯 sputtering economy.
Following a record year for the Port of Vancouver in 2015, cargo fell 5.9 per cent to 66 million tonnes in the six months to June from the same period in 2015, the port said in a statement. Shipments of all major commodities declined except for grains.
Coast exports to Asia fell 39 per cent. A slowdown in industrial activity in western Canada hit volumes of machinery, vehicles, and construction materials, which fell 12 per cent.
A weaker Canadian dollar also affected consumers, leading to a decline in imports of household goods, it said.
Canada's natural resources-dependent economy is struggling to emerge from a slump having expanded by 1.2 per cent since May 2014, the slowest two-year pace outside a recession in at least six decades.
Disappointing data on trade and employment has stoked speculation policy makers will need to add even more stimulus if things don't improve.
Year to date container volume to July came to 1.66 million TEU in the first seven months of 2016, down 6.6 per cent year on year.
Of that 854,521 TEU were import boxes, down 6.2 per cent, and 624,812 TEU were exports, down 0.4 per cent.
Empties, both import and export came in at 24,366 TEU, up 26.8 per cent year on year.
Hit by weak industrial activity at home and slackening demand for commodities in Asia, tonnage figures were another sign of trouble for Canada抯 sputtering economy.
Following a record year for the Port of Vancouver in 2015, cargo fell 5.9 per cent to 66 million tonnes in the six months to June from the same period in 2015, the port said in a statement. Shipments of all major commodities declined except for grains.
Coast exports to Asia fell 39 per cent. A slowdown in industrial activity in western Canada hit volumes of machinery, vehicles, and construction materials, which fell 12 per cent.
A weaker Canadian dollar also affected consumers, leading to a decline in imports of household goods, it said.
Canada's natural resources-dependent economy is struggling to emerge from a slump having expanded by 1.2 per cent since May 2014, the slowest two-year pace outside a recession in at least six decades.
Disappointing data on trade and employment has stoked speculation policy makers will need to add even more stimulus if things don't improve.
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