The Port of Vancouver today reported record volumes of Canadian trade in 2024, playing a crucial role connecting Canada to diverse markets across the world.
The Vancouver Fraser Port Authority’s annual statistics show a record 158 million metric tonnes (MMT) of cargo moved through the port in 2024, a 5% increase year-over-year that was led by strong performances in the auto, bulk and container sectors.
“The Port of Vancouver continues to drive Canadian prosperity—enabling seamless trade with up to 170 nations across the globe and supporting countless well-paying family jobs across the nation,” said Peter Xotta, President and CEO of the port authority, the federal agency that enables trade through the Port of Vancouver while protecting the environment.
“The Port of Vancouver stands ready to support efforts to diversify Canada’s international trade and build a strong, resilient national economy. We will continue partnering with governments and industry to plan and deliver the long-term capacity needed to support trade through the gateway—in support of all Canadians.”
Almost as much cargo moved through the Port of Vancouver in 2024 as was handled by Canada’s next five largest ports combined, and approximately 80% of the international trade it enabled was Canadian trade with countries other than the U.S.
“The strength of our gateway shone bright last year with the port moving record volumes despite a challenging environment that included numerous disruptions,” Mr. Xotta said. “I want to acknowledge port operators and our supply chain partners for their unwavering dedication to serving Canada and its trade needs—in 2024 our supply chain flexed but never broke.”
Challenges faced by the port community in 2024 included impacts from climate change and extreme weather such as wildfires, increasing local and global geopolitical tensions, and labour disputes.
The bulk sector’s strong performance led the way, with volumes up 8% to 117.9 MMT, including:
- Record liquid bulk exports, up 203% to 17.1 MMT, as the expanded Trans Mountain pipeline and Westridge terminal unlocked new markets across Asia for Canadian petroleum products. Petroleum exports through the port almost quadrupled to 15 MMT in 2024, while canola oil exports almost doubled to 0.9 MMT.
- Near-record exports of Canadian grain, up 1% to 29 MMT, as port operators and favourable weather meant Canadian farmers were able to serve strong international demand for their crops. Fertilizer (down 4% to 12 MMT) and coal (down 2% to 42 MMT) exports remained stable.
“Trans Mountain’s expansion coming into operation last May was a significant milestone for Canada and the port—adding export capacity and opening up new opportunities for Canadian producers,” Mr. Xotta said. “More than half of crude oil exports through the port since May went to Indo-Pacific markets. Our Active Vessel Traffic Management program helped support a safe and seamless ramp-up of tanker traffic, while ensuring the reliability and fluidity of other vital port sectors such as grain weren’t impacted.”
A record of almost 470,000 vehicles were handled by auto terminals in 2024, as imports through the port helped meet strong Canadian consumer demand for new vehicles. Nearly 100% of Canada’s Asian-manufactured vehicle imports arrive via the Port of Vancouver, with recent work to optimize the Annacis Auto Terminal increasing capacity by one-third and ensuring the port is well-placed to handle market growth.
The Port of Vancouver handles North America’s most diversified range of cargo, and in 2024 the top trading partners that moved goods through the port were China (46 MMT), Japan (19 MMT) and South Korea (18 MMT). Trade to the U.S. through the port increased to 7% of total cargo moved (10 MMT), driven by increased petroleum exports via Westridge terminal.
Robust container trade
Container trade recovered throughout 2024, with the Port of Vancouver returning to pre-pandemic growth trends following several tumultuous years that included a pandemic-era surge in consumer demand and numerous supply chain disruptions. The port’s four container terminals handled 3.47 million 20-foot equivalent units (or TEUs) in 2024—up 11% compared to 2023 and 2% compared to 2019.
“Containerized trade at the Port of Vancouver approached record levels in 2024, with terminals handling the highest volume ever outside of the pandemic,” Mr. Xotta said. “Containerized trade continues to play an increasingly important role connecting Canadians and our businesses to markets across the world, moving everything from imports of vehicle parts, food and consumer electronics to exports of B.C. seafood and Prairie specialty grain.”
(photo from VFPA)