Port of Vancouver nears 3.5 million TEUs in 2024

Container trade rebounded, returning to pre-pandemic growth trends at the port of Vancouver, which in 2024, handled 3.47 million TEUs, marking an 11% increase from 2023 levels and a 2% growth compared to 2019 figures.

Import volumes at the Canadian port grew by 14% as retailers restocked inventories, while exports increased by 5%, with Canadian goods reaching 128 different countries.

Meanwhile, the port of Vancouver recorded a record-breaking 158 million metric tons (MMT) of cargo, representing a 5% increase from the previous year. This growth was driven by strong performances in the auto, bulk, and container sectors, reinforcing the port’s role as Canada’s gateway to global markets. It is important to note that nearly 80% of the international trade passing through the port of Vancouver was between Canada and countries other than the United States.

“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,” stated Peter Xotta, President and CEO of the Vancouver Fraser Port Authority.

He added, “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.”

In other cargo sectors, despite challenges such as climate change impacts, geopolitical tensions, and labor disputes, the bulk sector led the way with an 8% increase to 117.9 MMT. Additionally, liquid bulk exports surged by 203% to 17.1 MMT, fueled by the expansion of the Trans Mountain pipeline and the Westridge terminal, opening new markets in Asia. Petroleum exports nearly quadrupled to 15 MMT, while canola oil exports nearly doubled to 0.9 MMT. Canadian grain exports remained strong, reaching 29 MMT, while fertilizer and coal exports remained stable.

The auto sector also saw record activity, with nearly 470,000 vehicles handled at auto terminals, meeting Canada’s rising demand for new vehicles. Almost all Asian-manufactured vehicle imports to Canada enter through Vancouver, with recent upgrades to the Annacis Auto Terminal increasing capacity by one-third.

The Port of Vancouver remains North America’s most diversified trade hub, with top trading partners in 2024, including China (46 MMT), Japan (19 MMT), and South Korea (18 MMT). Trade with the United States rose to 10 MMT, making up 7% of total cargo, largely driven by petroleum exports.

Foreign breakbulk volumes declined slightly by 2% to 1.9 MMT, with a 7% rise in metal imports offset by a 13% drop in forestry product exports as more wood pulp shipments transitioned to containerized transport.

Last but not least, the cruise sector also had a record-breaking year, with 1.33 million passengers visiting the Canada Place cruise terminal, a 7% increase from the previous record of 1.24 million set in 2023.

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