Friday, June 7, 2013

Study: Port Metro Vancouver Cargo Values Up

There has been a significant increase in the total value of cargo handled annually through Port Metro Vancouver over the past four years, according to a newly released study.

The port’s 2012 Economic Impact Study, which was released May 31 by InterVISTAS Consulting, a Vancouver-based management consulting company, also show considerable growth in the average port-related wage as well as in the number of full-time positions since the last study, which was released in 2008.

Port Metro Vancouver is the busiest port in Canada and the fourth largest tonnage port in North America.

According to the report, Port Metro Vancouver handles $172 billion of cargo each year, or about $475 million daily, representing one-fifth of Canada’s total trade by value.

“The report demonstrates our substantial employment and economic impacts provincially and nationwide, with a particular focus on the communities that surround the Lower Mainland,” Port Metro Vancouver President and Chief Executive Officer Robin Silvester said.

In addition to the amount of total cargo handled, key findings from the study include that Port Metro Vancouver handles 19 percent of Canada’s total trade by value.

Also, it generates $20.3 billion in economic output; $9.7 billion in direct GDP; $6.1 billion in wages; 98,800 jobs in Canada; 38,200 direct jobs in British Columbia; and a $67,000 average wage vs. a $44,000 average wage in Canada.

The study also says Metro Vancouver generates $1.3 billion per year in tax revenues, including $756 million; federal; $403 million provincial; and $116 million municipal.

The full study can be seen at