Railway Association of Canada issues annual report on rail trends

The Railway Association of Canada (RAC) this week released "Rail Trends 2024", a rolling, 10-year review of financial and statistical results for the industry.

The report's 32nd edition is a compendium of Canadian rail data up to Dec, 31, 2023, RAC officials said in a press release. Data is reported by RAC member companies: Class Is, short lines, and tourist, intercity and commuter railroads.

Highlights of the report include:
• Canadian railways invested $2.9 billion to improve the safety, efficiency, capacity, and fluidity of Canadian supply chains;
• The total number of accidents decreased 8.5%. The passenger train accident rate improved 52.4%, the freight accident rate improved 7.7%, and the dangerous goods accident rate decreased 15.9%;
•Railways added 2,000 direct industry jobs. The representation of women, persons with disabilities, visible minorities and Indigenous peoples all increased; and
• Passenger railways regained ridership. The number of rail commuters increased 70.5% and intercity passengers increased 30.7%.

"Rail doesn’t just move goods and people; it moves economies forward,” said RAC President and CEO Marc Brazeau. “Rail Trends 2024 is a testament to what a strong rail sector means for a competitive and robust Canadian economy.”

The full report is available here.