OTTAWA, Ont. Data released today by Statistics Canada confirm the continuation of three trends for motor carriers: slumping overall revenue growth, rising costs, and the growing importance of domestic shipments.
For-hire trucking companies based in Canada with annual revenue of $1 million or more generated operating revenue of $7.1 billion in the fourth quarter of 2007, up less than 1% from the previous year. Growth in revenue earned from hauling domestic shipments (+5%) offset a decline in revenue (-7%) from transborder shipments.
Domestic freight has been growing faster than transborder freight since 2003.
These companies reported operating expenses of $6.8 billion, 2% higher than a year earlier and a larger increase than that of operating revenue. As a result, the operating ratio (operating expenses divided by operating revenue) deteriorated to 0.95 from 0.94 a year ago.
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