Canada
2019 Economic Complexity : 1.01, Rank 30 of 146
2019 Service Exports | Imports : $103B | $120B, 6 of 69 | 4 of 69
Overview In 2019 Canada was the number 10 economy in the world in terms of GDP (current US$), the number 11 in total exports, the number 12 in total imports, the number 20 economy in terms of GDP per capita (current US$) and the number 30 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Canada are Crude Petroleum ($67.8B), Cars ($40.9B), Gold ($14.6B), Refined Petroleum ($12.3B), and Vehicle Parts ($10.8B), exporting mostly to United States ($314B), China ($18.5B), United Kingdom ($13.8B), Japan ($9.92B), and Mexico ($6.18B).
In 2019, Canada was the world's biggest exporter of Sawn Wood ($6.35B), Raw Aluminium ($5.45B), Potassic Fertilizers ($5.27B), Rapeseed ($3.23B), and Rapeseed Oil ($2.6B)
Imports The top imports of Canada are Cars ($27.9B), Vehicle Parts ($20.2B), Delivery Trucks ($15.3B), Crude Petroleum ($13.5B), and Refined Petroleum ($13B), importing mostly from United States ($252B), China ($47.2B), Mexico ($21.3B), Germany ($12.7B), and Japan ($10.2B).
In 2019, Canada was the world's biggest importer of Aqueous Paints ($522M), Cabbages ($472M), Lettuce ($451M), Iron Railway Products ($305M), and Asphalt ($273M)
Location Canada borders United States by land and Greenland and Saint Pierre and Miquelon by sea.
Latest Trends
#permalink to sectionJune, 2021
Overview In June 2021 Canada exported C$51B and imported C$51.4B, resulting in a negative trade balance of C$339M. Between June 2020 and June 2021 the exports of Canada have increased by C$13.5B (35.9%) from C$37.6B to C$51B, while imports increased by C$7.73B (17.7%) from C$43.6B to C$51.4B.
Trade In June 2021, the top exports of Canada were Crude Petroleum (C$9.25B), Cars (C$2.97B), Sawn Wood (C$2.16B), Gold (C$1.71B), and Refined Petroleum (C$1.22B). In June 2021 the top imports of Canada were Cars (C$2.94B), Refined Petroleum (C$1.57B), Commodities not elsewhere specified (C$1.48B), Vehicle Parts (C$1.44B), and Delivery Trucks (C$1.36B).
Origins In June 2021 the exports of Canada were mainly from Ontario (C$16.9B), Alberta (C$11.9B), Quebec (C$8.39B), British Columbia (C$5.13B), and Saskatchewan (C$3.06B), while imports destinations were mainly Ontario (C$30.9B), Quebec (C$7.7B), British Columbia (C$5.48B), Alberta (C$2.69B), and Manitoba (C$1.89B).
Destinations In June 2021, Canada exported mostly to United States (C$38B), China (C$2.8B), Japan (C$1.25B), United Kingdom (C$1.13B), and Mexico (C$684M), and imported mostly from United States (C$25.3B), China (C$6.45B), Mexico (C$2.77B), Germany (C$1.56B), and Japan (C$1.53B).
Growth In June 2021, the increase in Canada's year-by-year exports was explained primarily by an increase in exports to United States (C$11.6B or 44.2%), Hong Kong (C$435M or 405%), and China (C$397M or 16.5%), and product exports increase in Crude Petroleum (C$6.07B or 191%), Sawn Wood (C$1.43B or 198%), and Refined Petroleum (C$661M or 119%). In June 2021, the increase in Canada's year-by-year imports was explained primarily by an increase in imports from United States (C$4.17B or 19.7%), Japan (C$809M or 112%), and France (C$424M or 98.2%), and product imports increase in Cars (C$939M or 46.8%), Blood, antisera, vaccines, toxins and cultures (C$865M or 219%), and Refined Petroleum (C$725M or 86.3%).
Latest Trade
#permalink to sectionEXPORT GROWTH (June 2020 - June 2021): C$13.5B, (35.9%)
IMPORT GROWTH (June 2020 - June 2021): C$7.73B, (17.7%)
MAIN EXPORTER (June 2021): Ontario, C$16.9B
MAIN DESTINATION (June 2021): United States, C$38B
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.
For full datasets download visit Bulk Download page.
Historical Data
#permalink to sectionYearly Exports
#permalink to sectionTop Export (2019): Crude Petroleum, $67.8B
Top Destination (2019): United States, $314B
In 2019, Canada exported a total of $431B, making it the number 11 exporter in the world. During the last five reported years the exports of Canada have changed by -$35.5B from $466B in 2014 to $431B in 2019.
The most recent exports are led by Crude Petroleum ($67.8B), Cars ($40.9B), Gold ($14.6B), Refined Petroleum ($12.3B), and Vehicle Parts ($10.8B). The most common destination for the exports of Canada are United States ($314B), China ($18.5B), United Kingdom ($13.8B), Japan ($9.92B), and Mexico ($6.18B).
Yearly Imports
#permalink to sectionTop Import (N/A): Cars, $27.9B
Top Origin (N/A): United States, $252B
In N/A Canada imported N/A, making it the number 12 trade destination in the world. During the last five reported years the imports of Canada changed by N/A from N/A in 2014 to N/A in N/A.
The most recent imports of Canada are led by Cars ($27.9B), Vehicle Parts ($20.2B), Delivery Trucks ($15.3B), Crude Petroleum ($13.5B), and Refined Petroleum ($13B). The most common import partners for Canada are United States ($252B), China ($47.2B), Mexico ($21.3B), Germany ($12.7B), and Japan ($10.2B).
Monthly Trade
#permalink to sectionMarket Growth
#permalink to sectionService Trade
#permalink to sectionService Trade
#permalink to sectionCanada Exports Services (2019): $103B
Canada Imports Services (2019): $120B
In 2019, Canada exported $103B worth of services. The top services exported by Canada in 2019 were Other business services ($28.2B), Personal travel ($24.5B), Transportation ($14B), Computer and information services ($10.3B), and Financial services ($9.14B).
The top services imported by Canada in 2019 were Personal travel ($31.4B), Transportation ($24.4B), Other business services ($23.9B), Royalties and license fees ($12.4B), and Financial services ($8.86B).
Tariffs
#permalink to sectionTariffs by Product
#permalink to sectionThe top product import tariffs by their MFN Ad Valorem value for Canada are Fermented beverages nes (eg cider, perry, mead, etc) (39.6k%) and Ethyl alcohol and other spirits, denatured (11.9k%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Canada are:
Economic Complexity
#permalink to sectionComparison Map
#permalink to sectionThis 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 (0.13), Quebec (0.026), and British Columbia (-0.14).
In 2020, the principal exporters of Canada were Ontario (C$187B), Alberta (C$91.5B), and Quebec (C$84.2B).
The same year, the principal importers of Canada were Ontario (C$338B), Quebec (C$76.5B), and British Columbia (C$53.3B).
Most Specialized Products by RCA Index
#permalink to sectionCanada has a high level of specialization in Semi chemical Woodpulp (22.1), Aircraft Launch Gear (21.3), Oats (21.1), Chlorates and Perchlorates (18.5), and Rapeseed Oil (16.2). Specialization is measured using RCA, an index that takes the ratio between Canada observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Canada according to the product complexity index (PCI) are Electric solder, weld, braze,hot metal spray equipment (1.75), Fork-lift trucks, other trucks with lifting equipment (1.67), Machinery for rubber, plastics industry (1.57), Moulds for metals (except ingot), plastic, rubber, etc (1.54), and Special textile products for technical purposes (1.21). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Canada according to the relatedness index, are Nitrogenous Fertilizers (0.29), Scrap Lead (0.29), Refined Petroleum (0.29), Bran (0.28), and Milk (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.
Product Space
#permalink to sectionThe 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.
Diversification Frontier
#permalink to sectionThe 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.
Economic Complexity Ranking
#permalink to sectionDuring the last 20 years Canada's economy has become relatively less complex, moving from the 15th to the 30th 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.