Canada2021 Economic Complexity : 0.9, Rank 32 of 131
2021 Product Exports | Imports: $484B | $467B, 9 of 226 | 12 of 226
2021 Per Capita Product Exports | Imports: $12.6k | $12.2k, 63 of 219 | 24 of 219
2020 Service Exports | Imports : $62.1B | $71.7B, 11 of 65 | 9 of 65
Overview In 2021, Canada was the number 9 economy in the world in terms of GDP (current US$), the number 9 in total exports, the number 12 in total imports, the number 16 economy in terms of GDP per capita (current US$) and the number 32 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Canada are Crude Petroleum ($81.2B), Cars ($29B), Petroleum Gas ($15B), Gold ($14.3B), and Sawn Wood ($13.3B), exporting mostly to United States ($355B), China ($22.5B), Japan ($11.9B), United Kingdom ($11.8B), and Mexico ($7.14B).
In 2021, Canada was the world's biggest exporter of Sawn Wood ($13.3B), Raw Aluminium ($8.31B), Potassic Fertilizers ($6.03B), Rapeseed ($5.17B), and Rapeseed Oil ($4.23B)
Imports The top imports of Canada are Cars ($27.2B), Motor vehicles; parts and accessories (8701 to 8705) ($14.5B), Delivery Trucks ($14.2B), Refined Petroleum ($12.5B), and Crude Petroleum ($11.9B), importing mostly from United States ($259B), China ($57.1B), Mexico ($17.4B), Germany ($12.4B), and Japan ($9.62B).
In 2021, Canada was the world's biggest importer of Aqueous Paints ($573M), Cabbages ($492M), Iron Radiators ($461M), Magnesium ($275M), and Asbestos Cement Articles ($160M)
Location Canada borders United States by land and Greenland and Saint Pierre and Miquelon by sea.
December, 2022
Overview In December 2022 Canada exported C$58.7B and imported C$58.4B, resulting in a positive trade balance of C$300M. Between December 2021 and December 2022 the exports of Canada have increased by C$5.48B (10.3%) from C$53.2B to C$58.7B, while imports increased by C$2.19B (3.9%) from C$56.2B to C$58.4B.
Trade In December 2022, the top exports of Canada were Crude Petroleum (C$11B), Cars (C$3.68B), Petroleum Gas (C$2.42B), Planes, Helicopters, and/or Spacecraft (C$1.71B), and Refined Petroleum (C$1.7B). In December 2022 the top imports of Canada were Cars (C$3.32B), Refined Petroleum (C$2.28B), Commodities not elsewhere specified (C$2.25B), Motor vehicles; parts and accessories (8701... (C$1.9B), and Telephones (C$1.79B).
Origins In December 2022 the exports of Canada were mainly from Ontario (C$19.2B), Alberta (C$15.1B), Quebec (C$10.3B), British Columbia (C$4.58B), and Saskatchewan (C$4.24B), while imports destinations were mainly Ontario (C$35.2B), Quebec (C$8.01B), British Columbia (C$5.66B), Alberta (C$3.38B), and Manitoba (C$2.45B).
Destinations In December 2022, Canada exported mostly to United States (C$43.6B), China (C$2.71B), Japan (C$1.37B), United Kingdom (C$1.19B), and Mexico (C$822M), and imported mostly from United States (C$29.1B), China (C$7.5B), Mexico (C$3.23B), Germany (C$1.92B), and Japan (C$1.36B).
Growth In December 2022, the increase in Canada's year-by-year exports was explained primarily by an increase in exports to United States (C$8.23B or 26.8%), South Korea (C$309M or 79.4%), and Japan (C$293M or 29.4%), and product exports increase in Crude Petroleum (C$4.4B or 72.3%), Petroleum Gas (C$1.32B or 88.9%), and Coal Briquettes (C$584M or 178%). In December 2022, the increase in Canada's year-by-year imports was explained primarily by an increase in imports from United States (C$3.17B or 15.4%), China (C$236M or 3.64%), and South Korea (C$224M or 28.9%), and product imports increase in Vaccines, blood, antisera, toxins and cultures (C$749M or 154%), Refined Petroleum (C$406M or 44.4%), and Petroleum Gas (C$399M or 186%).
EXPORT GROWTH (December 2021 - December 2022): C$5.48B, (10.3%)
IMPORT GROWTH (December 2021 - December 2022): C$2.19B, (3.9%)
MAIN EXPORTER (December 2022): Ontario, C$19.2B
MAIN DESTINATION (December 2022): United States, C$43.6B
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, destination or origin country to explore the exports or imports behavior of Canada over time.
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Top Export (2021): Crude Petroleum, $81.2B
Top Destination (2021): United States, $355B
In 2021, Canada exported a total of $484B, making it the number 9 exporter in the world. During the last five reported years the exports of Canada have changed by $109B from $375B in 2016 to $484B in 2021.
The most recent exports are led by Crude Petroleum ($81.2B), Cars ($29B), Petroleum Gas ($15B), Gold ($14.3B), and Sawn Wood ($13.3B). The most common destination for the exports of Canada are United States ($355B), China ($22.5B), Japan ($11.9B), United Kingdom ($11.8B), and Mexico ($7.14B).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
Canada Exports Services (2020): $62.1B
Canada Imports Services (2020): $71.7B
In 2020, Canada exported $62.1B worth of services. The top services exported by Canada in 2020 were Travel ($13.5B), Computer and information services ($10.5B), Transportation ($10.2B), Financial services ($10B), and Royalties and license fees ($7.21B).
The top services imported by Canada in 2020 were Transportation ($17.3B), Royalties and license fees ($13.7B), Travel ($12.1B), Financial services ($9.86B), and Computer and information services ($6.63B).
This section shows exports, imports and economic complexity data at the subnational level for Canada. Click any of the Province in the geomap to visit the specific subnational profile.
The top territories of Canada according to its Economic Complexity Index are Ontario (0.11), Quebec (0.011), and British Columbia (-0.18).
The principal exporters of Canada were Ontario (C$226B), Alberta (C$204B), and Quebec (C$111B).
The same year, the principal importers of Canada were Ontario (C$439B), Quebec (C$106B), and British Columbia (C$77.5B).
Canada has a high level of specialization in Semi chemical Woodpulp (20.6), Oats (18.4), Chlorates and Perchlorates (16.6), Rapeseed (16), and Aircraft Launch Gear (15.5). Specialization is measured using RCA, an index that takes the ratio between Canada observed and expected exports in each product.
The highest complexity exports of Canada according to the product complexity index (PCI) are Rubberworking Machinery (1.68), Fork-Lifts (1.51), Metal Molds (1.46), Other Nickel Products (1.44), and Sound Recordings (1.11). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Canada according to the relatedness index, were Scrap Lead (0.3), Refined Petroleum (0.29), Nitrogenous Fertilizers (0.29), Animal Meal and Pellets (0.28), and Fish Fillets (0.28). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Canada is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 20 years Canada's economy has become relatively less complex, moving from the 12th to the 32nd position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
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