Railway Association of Canada reports industry financial data, stats

The Railway Association of Canada (RAC) yesterday released its "Rail Trends 2023", a rolling, 10-year review of financial and statistical results.

The 31st edition of "Rail Trends" is a compendium of Canadian rail data up to Dec. 31, 2022. Data is reported by RAC member companies, including Class Is, short lines, and tourist, intercity and commuter railroads.

Highlights of the latest report include:
• Railways invested $2.4 billion in 2022 to improve safety, efficiency, capacity and supply-chain fluidity;
• Railways paid a record CA$2.2 billion in taxes in 2022 to Canadian governments;
• Industry employment rose 3.2% and average wages increased 2.2% to CA$104,443; and
• freight fuel efficiency improved to 711 revenue ton-miles per gallon, setting another record.

"More than 35,000 dedicated railroaders work tirelessly to move more than CA$380 billion dollars in goods and getting tens of millions of passengers where they need to be," said RAC President and CEO Marc Brazeau in a press release.

The full report can be downloaded here.