Flag Canada

Econ Complexity (2018): 0.98, Rank 25 of 137

Product Exports (2018): $431B, Rank 12 of 222

Exports Per Capita (2018): $11.6k, Rank 159 of 219

Product Imports (2018): $369B, Rank 15 of 221

Imports Per Capita (2018): $9.96k, Rank 133 of 219

Service Exports (2018): $82.9B, Rank 11 of 88

Service Imports (2018): $109B, Rank 9 of 88

GDP (2018): $1.71T, CURRENT US$
Rank 10 of 196

GDP growth (2008 - 2018): 10.6%, CURRENT US$
Rank 141 of 196

GDP PC (2018): $46,233, CURRENT US$
Rank 20 of 196

GDP PC GROWTH (2008 - 2018): -0.78%, CURRENT US$
Rank 149 of 196

Overview: In 2018 Canada was the number 10 economy in the world in terms of GDP (current US$), the number 12 in total exports, the number 15 in total imports, and the number 25 most complex economy according to the Economic Complexity Index (ECI). In 2018, Canada exported $431B and imported $369B, resulting in a positive trade balance of $61.6B. In 2018, Canada's exports per capita were $11.6k and its imports per capita were $9.96k.

Trade: The top exports of Canada are Crude Petroleum ($66.6B), Cars ($41B), Gold ($12.9B), Refined Petroleum ($12.3B), and Vehicle Parts ($11.3B). The top imports of Canada are Cars ($29.4B), Refined Petroleum ($15.8B), Delivery Trucks ($13.7B), Crude Petroleum ($12.2B), and Computers ($7.86B).

Destinations: Canada exports mostly to United States ($314B), China ($21.5B), United Kingdom ($12.9B), Japan ($10.2B), and Mexico ($6.99B), and imports mostly from United States ($190B), China ($47.1B), Mexico ($18.3B), Germany ($12.3B), and Japan ($10.5B).

Location: Canada borders United States by land and Greenland and Saint Pierre and Miquelon by sea.

Latest Trends (April, 2020)

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Overview: In April 2020 Canada exported C$50.1B and imported C$52.4B, resulting in a negative trade balance of C$2.21B. Between April 2019 and April 2020 the exports of Canada have decreased by C$-30.3B (-37.7%) from C$80.4B to C$50.1B, while imports decreased by C$-26.4B (-33.5%) from C$78.8B to C$52.4B.

Trade: In April 2020 the top exports of Canada were Crude Petroleum (C$8.05B), Gold (C$1.67B), Packaged Medicaments (C$1.41B), Raw Aluminium (C$1.25B), and Sawn Wood (C$1.2B). In April 2020 the top imports of Canada were Gold (C$2.09B), Commodities not elsewhere specified (C$1.9B), Refined Petroleum (C$1.65B), Packaged Medicaments (C$1.37B), and Computers (C$1.18B).

Origins: In April 2020 the exports of Canada were mainly from Ontario (C$16.2B), Alberta (C$11.8B), Quebec (C$9.56B), British Columbia (C$4.41B), and Saskatchewan (C$3.64B), while imports destinations were mainly Ontario (C$31.5B), Quebec (C$6.79B), British Columbia (C$5.22B), Alberta (C$3.08B), and Manitoba (C$2.69B).

Destinations: In April 2020 Canada exported mostly to United States (C$40.9B), China (C$1.9B), United Kingdom (C$1.12B), Japan (C$1.05B), and Germany (C$377M), and imported mostly from United States (C$32.3B), China (C$5.49B), Mexico (C$1.51B), Germany (C$1.33B), and Japan (C$934M).

Growth: In April 2020, the decrease in Canada's year-by-year exports was explained primarily by a decrease in exports to United States (C$-28.2B or -40.8%), United Kingdom (C$-584M or -34.4%), and Hong Kong (C$-316M or -73.7%), and product exports decrease in Crude Petroleum (C$-8.61B or -51.7%), Cars (C$-7.01B or -92.4%), and Vehicle Parts (C$-2.02B or -91.2%). In April 2020, the decrease in Canada's year-by-year imports was explained primarily by a decrease in imports from United States (C$-21.3B or -39.8%), Mexico (C$-1.7B or -53%), and Japan (C$-538M or -36.6%), and product imports decrease in Cars (C$-4.31B or -80.7%), Delivery Trucks (C$-3.66B or -87.8%), and Vehicle Parts (C$-2.78B or -79.6%).

Flow
Value
Depth

EXPORT GROWTH (April 2019 - April 2020): C$-30.3B, (-37.7%)

IMPORT GROWTH (April 2019 - April 2020): C$-26.4B, (-33.5%)

MAIN EXPORTER (April 2020): Ontario, C$16.2B

MAIN DESTINATION (April 2020): United States, C$40.9B

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.

Comparison in Time

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Flow
Value

This section shows the differences between Canada's total subnational aggregate trade throughout time. To explore different subnational trade comparisons in time, visit Canada's subnational profiles.

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Product Exports

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Value
Depth

Top Export (2018): Crude Petroleum, $66.6B

Top Destination (2018): United States, $314B

In 2018 Canada exported a total of $431B, making it the number 12 exporter in the world. During the last five reported years the exports of Canada have changed by -$14.5B from $445B in 2013 to $431B in 2018.

The most recent exports are led by Crude Petroleum ($66.6B), Cars ($41B), Gold ($12.9B), Refined Petroleum ($12.3B), and Vehicle Parts ($11.3B). The most common destination for the exports of Canada are United States ($314B), China ($21.5B), United Kingdom ($12.9B), Japan ($10.2B), and Mexico ($6.99B).

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Product Imports

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Value
Depth

Top Import (2018): Cars, $29.4B

Top Origin (2018): United States, $190B

In 2018 Canada imported $369B, making it the number 15 trade destination in the world. During the last five reported years the imports of Canada changed by -$77.6B from $447B in 2013 to $369B in 2018.

The most recent imports of Canada are led by Cars ($29.4B), Refined Petroleum ($15.8B), Delivery Trucks ($13.7B), Crude Petroleum ($12.2B), and Computers ($7.86B). The most common import partners for Canada are United States ($190B), China ($47.1B), Mexico ($18.3B), Germany ($12.3B), and Japan ($10.5B).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Canada Exports Services (2018): $82.9B

Canada Imports Services (2018): $109B

In 2018, Canada exported $82.9B worth of services. The top services exported by Canada in 2018 were Miscellaneous business, professional, and technical services ($22.4B), Personal travel ($19.3B), Computer and information services ($8.85B), Air transport ($6.47B), and Financial services ($5.22B).

The top services imported by Canada in 2018 were Personal travel ($29.3B), Miscellaneous business, professional, and technical services ($19.1B), Royalties and license fees ($11.8B), Sea transport ($11.2B), and Air transport ($9.81B).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Canada. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Canada are Dairy produce: derived from milk, butter (299%) and Milk and cream unsweetened, concentrated (259%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Canada are:
90: Australian New Zealand Closer Economic Relations Trade Agreement (ANZCERTA)(1 January 1983)
98: Canada - Chile Free Trade Agreement (5 July 1997)
99: Canada - Colombia Free Trade Agreement (15 August 2011)
100: Canada - Costa Rica Free Trade Agreement (1 November 2002)
101: Canada - European Free Trade Association (EFTA: Switzerland,Iceland,Norway and Liechtenstein, 1 July 2009)
103: Canada - Israel Free Trade Agreement (1 January 1997)
104: Canada - Peru Free Trade Agreement (1 August 2009)
105: Canada Generalized System of Preference
106: Canada GSP for Least Developed Countries
107: Canada United States Free Trade Agreement
108: Caribbean Canada Trade Agreement (CARIBCAN) (Canada - Anguilla, Antigua and Barbuda, Bahamas, Bermuda, Barbados, Belize, British Virgin Islands, Cayman Islands, Dominica, Grenada, Guyana, Jamaica, Mon
136: Most Favoured Nation duty rate treatement
142: North American Free Trade Agreement (NAFTA)
166: Preferential tariff for Australia (CANATA) Canada Australia Trade Agreement
219: Preferential tariff for European Union countries (AA) Association Agreement
233: Preferential tariff for Honduras
247: Preferential tariff for Jordan
249: Preferential tariff for Korea, Republic of
270: Preferential tariff for Mexico
285: Preferential tariff for Panama
325: Preferential tariff for Ukraine

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Canada's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨17th to the 25th⁩ 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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Comparison Map

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Value

This section shows exports, imports and economic complexity data at subnational level for Canada. Click any of the Province in the geomap to visit the specific subnational profile.

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Most Specialized Products by RCA Index

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Canada has a high level of specialization in Semi chemical Woodpulp (23.5), Oats (21.2), Chlorates and Perchlorates (19.6), Aircraft Launch Gear (18.4), and Rapeseed (18.2). 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

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The highest complexity exports of Canada according to the product complexity index (PCI) are Electric solder, weld, braze,hot metal spray equipment (1.83), Fork-lift trucks, other trucks with lifting equipment (1.59), Moulds for metals (except ingot), plastic, rubber, etc (1.42), Machinery for rubber, plastics industry (1.32), and Abrasive cloths, papers etc (including sandpaper) (1.2). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Canada according to the relatedness index, are Nitrogenous Fertilizers (0.29), Scrap Lead (0.29), Refined Petroleum (0.28), Raw Iron Bars (0.28), and Prepared Explosives (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 it is currently specialized in.

Diversification Frontier

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Filter
Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.