Motor vehicles; parts and accessories (8701 to 8705) in Canada 2020 Exports | Imports : $9.06B | $14.6B, World Rnk 12 / 226 Rnk 4 / 1208 | World Rnk 5 / 226 Rnk 2 / 1213
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $2.99M | $7.85M, Slovakia | Thailand
2020 ECONOMIC COMPLEXITY of Canada: 0.93, Rnk 29 / 127
2020 PRODUCT COMPLEXITY IN Motor vehicles; parts and accessories (8701 to 8705): 1, Rnk 174 / 1029
Exports In 2020, Canada exported $9.06B in Motor vehicles; parts and accessories (8701 to 8705), making it the 12th largest exporter of Motor vehicles; parts and accessories (8701 to 8705) in the world. At the same year, Motor vehicles; parts and accessories (8701 to 8705) was the 4th most exported product in Canada. The main destination of Motor vehicles; parts and accessories (8701 to 8705) exports from Canada are: United States ($8.02B), Mexico ($781M), China ($50.3M), Finland ($27.1M), and Australia ($17.8M).
The fastest growing export markets for Motor vehicles; parts and accessories (8701 to 8705) of Canada between 2019 and 2020 were Slovakia ($2.99M), Chile ($1.85M), and Italy ($1.41M).
Imports In 2020, Canada imported $14.6B in Motor vehicles; parts and accessories (8701 to 8705), becoming the 5th largest importer of Motor vehicles; parts and accessories (8701 to 8705) in the world. At the same year, Motor vehicles; parts and accessories (8701 to 8705) was the 2nd most imported product in Canada. Canada imports Motor vehicles; parts and accessories (8701 to 8705) primarily from: United States ($10.3B), Mexico ($1.17B), China ($1.08B), Japan ($1.03B), and Germany ($276M).
The fastest growing import markets in Motor vehicles; parts and accessories (8701 to 8705) for Canada between 2019 and 2020 were Thailand ($7.85M), Honduras ($4.56M), and Vietnam ($3.04M).
Tariffs In 2018, the average tariff for Canada in Motor vehicles; parts and accessories (8701 to 8705) was 1.85%. The countries with the highest import tariffs for Motor vehicles; parts and accessories (8701 to 8705) were Botswana (Most Favoured Nation duty rate treatement, 3.23%), Algeria (Most Favoured Nation duty rate treatement, 3.23%), Western Sahara (Most Favoured Nation duty rate treatement, 3.23%), Gabon (Most Favoured Nation duty rate treatement, 3.23%), and Equatorial Guinea (Most Favoured Nation duty rate treatement, 3.23%).
October 2022
Overview In October 2022 Canada's Motor vehicles; parts and accessories (8701 to 8705) exports accounted up to C$1.48B and imports accounted up to C$1.89B, resulting in a negative trade balance of C$411M. Between October 2021 and October 2022 the exports of Canada's Motor vehicles; parts and accessories (8701 to 8705) have increased by C$327M (28.3%) from C$1.16B to C$1.48B, while imports increased by C$270M (16.6%) from C$1.62B to C$1.89B.
Destinations In October 2022, Motor vehicles; parts and accessories (8701 to 8705) were exported mostly to United States (C$1.34B), Mexico (C$109M), Finland (C$6.81M), China (C$6.39M), and Germany (C$3.81M), and were imported mostly from United States (C$1.17B), China (C$217M), Mexico (C$173M), Japan (C$104M), and Germany (C$45.8M).
Growth In October 2022, the increase in Motor vehicles; parts and accessories (8701 to 8705)'s year-by-year exports was explained primarily by an increase in exports to France (C$1.09M or 276%), China (C$904k or 17.9%), and Finland (C$500k or 99.2%). In October 2022, the increase in Motor vehicles; parts and accessories (8701 to 8705)'s year-by-year imports was explained primarily by an increase in imports from China (C$6.18M or 4.42%), Germany (C$4.03M or 10.1%), and Japan (C$2.85M or 2.98%).
EXPORT GROWTH (October 2021 - October 2022): C$327M, (28.3%)
IMPORT GROWTH (October 2021 - October 2022): C$270M, (16.6%)
MAIN EXPORTER (October 2022): Ontario, C$1.34B
MAIN DESTINATION (October 2022): United States, C$1.34B
This section shows Motor vehicles; parts and accessories (8701 to 8705)'s exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Motor vehicles; parts and accessories (8701 to 8705) over time.
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EXPORTS (2020): $9.06B
IMPORTS (2020): $14.6B
NET TRADE (2020): -$5.52B
In 2020, Canada exported $9.06B in Motor vehicles; parts and accessories (8701 to 8705). The main destinations of Canada exports on Motor vehicles; parts and accessories (8701 to 8705) were United States ($8.02B), Mexico ($781M), China ($50.3M), Finland ($27.1M), and Australia ($17.8M).
In 2020, Canada imported $14.6B in Motor vehicles; parts and accessories (8701 to 8705), mainly from United States ($10.3B), Mexico ($1.17B), China ($1.08B), Japan ($1.03B), and Germany ($276M).
THE FASTEST GROWING Motor vehicles; parts and accessories (8701 to 8705) EXPORT MARKETS FOR Canada WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Motor vehicles; parts and accessories (8701 to 8705) BY Canada WERE (2019 - 2020):
In 2020, Canada's main exporting competitors in Motor vehicles; parts and accessories (8701 to 8705) were:
In 2020, Canada's main importing competitors in Motor vehicles; parts and accessories (8701 to 8705) were:
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