Transborder carriers happy with the growth in export volumes to the U.S. should also be pleased with the backhaul situation.
Statistics Canada data released this morning shows merchandise imports continued to climb in April and ,although at a slower pace than exports, have increased over $2 billion in the last three months.
A decrease in passenger car and motor vehicle parts imports, as well as a slight drop in agricultural imports, was all that hampered widespread growth.
Strong purchases of industrial goods and materials contributed to April’s import rise, even though Canada is a net exporter of most of these products. Steady demand and high production helped trigger increases for metals in ores, steel products and various other fabricated materials.
Machinery and equipment imports were 0.8% higher in April as a result of offsetting movements. Increases in imports of office machines and equipment and in aircraft and industrial machinery offset declines in engines, turbines and motors and other communication and related equipment. The latter commodity grouping includes most telecommunication and information technology products.
Higher apparel and pharmaceutical product purchases improved imports of consumer goods by $51 million. Imports of coal and other related products have more than doubled over the last year. The 11.5% rise in April was the result of higher coal and natural gas purchases, often used in electrical power generation.
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