Document Highlights
The rail industry contributed a total of $17.5 billion to Canada’s real GDP in 2018 and sustained 182,000 jobs through its economic footprint.
Through its operations and investments, the rail industry’s economic footprint lifted incomes in Canada by $10.1 billion and generated a combined $7.2 billion in revenues for the federal and provincial/territorial governments.
Much of the rail industry’s deep impact on the Canadian economy can be attributed to its annual investments, productivity gains, and wage growth—all of which outperform the industrial average.
As a share of operating income, the rail industry’s annual investment is significantly larger than the industrial average. It invests roughly 20 per cent of its operating income into new capital, compared with 5 per cent across all industries.
On a GDP per worker basis, the rail industry grew 53.9 per cent over the 2009–18 period, compared with the industrial average of just 8.5 per cent.
Railways are crucial for exporting Canadian goods. An estimated $91.3 billion—or 15.4 per cent—of international exports were shipped by rail in 2019.
Key findings
Introduction
Economic footprint of the rail industry
Research summary
Appendix A—Rail in Canada: overview and significance
Appendix B—Economic impact methodology
Appendix C—North American Industry Classification System
Appendix D—The Conference Board’s national forecasting model
Appendix E—Bibliography
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