Canada (CAN) and Russia (RUS) Trade

2023

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Exports $36.2MRnk 118 / 215

2023

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About

Canada-Russia Trade: In 2023, Canada exported $36.2M to Russia. The main products that Canada exported to Russia were Eggs ($12.3M), Soil Preparation Machinery ($5.56M), and Other Inedible Animal Products ($5.47M). Over the past 5 years the exports of Canada to Russia have decreased at an annualized rate of 43.4%, from $623M in 2018 to $36.2M in 2023.

In 2020, Canada exported services to Russia worth $146M, with Transportation ($52.9M), Travel ($52.9M), and Royalties and license fees ($25.4M) being the largest in terms of value.

Russia-Canada Trade: In 2023, Russia exported $51.9M to Canada. The main products that Russia exported to Canada were Radioactive Chemicals ($25.2M), Aircraft parts (gliders, balloons, and powered aircraft) ($8.66M), and Plywood ($5.09M). Over the past 5 years the exports of Russia to Canada have decreased at an annualized rate of 45.7%, from $1.1B in 2018 to $51.9M in 2023.

In 2020, Russia exported services to Canada worth $128M, with Computer and information services ($44.5M), Other business services ($30.4M), and Transportation ($28.2M) being the largest in terms of value.

Comparison: In 2023, Canada ranked 30 in the Economic Complexity Index (ECI 0.9), and 10 in total exports ($574B). That same year, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Latest Trends

November, 2024

About

Overview In November 2024, Canada exported C$4.01M and imported C$6.73M from Russia, resulting in a negative trade balance of C$2.72M. Between November 2023 and November 2024 the exports of Canada have increased by C$735k (22.4%) from C$3.28M to C$4.01M, while imports decreased by C$-1.56M (-18.8%) from C$8.3M to C$6.73M.

Trade In November 2024, the top exports of Canada to Russia were Eggs (C$2M), Soil Preparation Machinery (C$1.86M), Machinery Having Individual Functions (C$1.02M), Other Inedible Animal Products (C$943k), and Packaged Medicaments (C$131k). In November 2024 the top imports of Canada from Russia were Aircraft parts for spacecraft, UAVs, and... (C$1.2M), Radioactive Chemicals (C$1.15M), Ferroalloys (C$340k), Rubber Tires (C$303k), and Plywood (C$297k).

Origins In November 2024 the exports of Canada were mainly from Ontario (C$3.47M), Quebec (C$434k), and British Columbia (C$112k), while imports destinations were mainly Ontario (C$5.52M), British Columbia (C$554k), Quebec (C$535k), Alberta (C$98.2k), and Manitoba (C$30.6k).

Growth In November 2024, the increase in Canada's year-by-year exports to Russia was explained primarily by an increase in product exports in Eggs (C$1.11M or 125%), Soil Preparation Machinery (C$870k or 88%), and Other Cloth Articles (C$23.3k or 1.22k%). In November 2024, the decrease in Canada's year-by-year imports from Russia was explained primarily by an decrease in product imports in Plywood (C$-6.16M or -95.4%), Rubber Tires (C$-3.74M or -92.5%), and Synthetic Rubber (C$-2.02M or -97.5%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (November 2023 - November 2024)C$735k(22.4%)

IMPORT GROWTH (November 2023 - November 2024)C$-1.56M(-18.8%)

MAIN EXPORTER (November 2024)OntarioC$3.47M

This section shows exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Canada over time.

To check Russia and Canada trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Canada exported $36.2M to Russia. The main products exported from Canada to Russia were Eggs ($12.3M), Soil Preparation Machinery ($5.56M), and Other Inedible Animal Products ($5.47M). During the last 5 years the exports of Canada to Russia have decreased at an annualized rate of 43.4%, from $623M in 2018 to $36.2M in 2023.

In 2018, Russia exported $51.9M to Canada. The main products exported from Russia to Canada were Radioactive Chemicals ($25.2M), Aircraft parts (gliders, balloons, and powered aircraft) ($8.66M), and Plywood ($5.09M). During the last 5 years the exports of Russia to Canada have decreased at an annualized rate of 45.7%, from $1.1B in 2023 to $51.9M in 2018.

Exports from Canada () to Russia () (2023)

Exports from Russia () to Canada () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Canada
Top DestinationUnited States$410B

Russia
Top DestinationChina$129B

This map shows whether countries import more from Canada or Russia. Each country is colored based on the difference in imports they receive from Canada and Russia or the difference in the growth in imports.

In 2023, countries that imported more from Canada than Russia included United States ($410B), United Kingdom ($18B), and Mexico ($8.76B).

In 2023, countries that imported more from Russia than Canada included China ($129B), India ($66.1B), and Turkey ($31B).

Difference in imports from Russia () and Canada () (2023)

Comparative Advantage Canada - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Canada and Russia by product, considering products traded by both, Canada and Russia.

During 2023, Canada had a large net trade with Russia in the exports of Animal Products ($17.8M), Machines ($8.15M), and Chemical Products ($6.46M).

During 2018, Russia had a large net trade with Canada in the exports of Chemical Products ($26.7M), Transportation ($8.86M), and Wood Products ($5.1M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Canada Russia+$17.8MPlanes, Helicopters, and/or Spacecraft

Top Product Potential Russia Canada+$112MRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Rus Year

Can Year

In 2020, Canada exported services to Russia worth $146M, with Transportation ($52.9M), Travel ($52.9M), and Royalties and license fees ($25.4M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Canada () to Russia () (2020)

Services Exports from Russia () to Canada () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Canada and Russia. This means that a dot/product with the flag of Canada indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over Canada.

Product Space of Canada () and Russia () (2023)

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