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2023
Economic Complexity
Trade 0.9Rank 30 of 132
2021
Economic Complexity
Technology 1.2Rank 11 of 96
2022
Economic Complexity
Research 2.26Rank 3 of 140
2023
Product
Exports | Imports $574B | $533B10 of 226 |  11 of 226
2023
Per Capita Product
Exports | Imports $14.3k | $13.3k30 of 220 |  22 of 220

About

Overview In 2023, Canada was the number 10 economy in the world in terms of GDP (current US$), the number 10 in total exports, the number 11 in total imports, the number 22 economy in terms of GDP per capita (current US$) and the number 30 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Canada are Crude Petroleum ($107B), Cars ($37.4B), Gold ($31.5B), Petroleum Gas ($15.7B), and Refined Petroleum ($15.1B), exporting mostly to United States ($410B), China ($31.1B), United Kingdom ($18B), Japan ($13.4B), and Mexico ($8.76B).

In 2023, Canada was the world's biggest exporter of Potassic Fertilizers ($9.44B), Raw Aluminium ($8.04B), Sawn Wood ($6.58B), Rapeseed Oil ($5.22B), and Rapeseed ($4.57B)

Imports The top imports of Canada are Cars ($38.2B), Delivery Trucks ($20.5B), Motor vehicles; parts and accessories (8701 to 8705) ($20.1B), Refined Petroleum ($17.3B), and Crude Petroleum ($15.7B), importing mostly from United States ($269B), China ($59.9B), Mexico ($33B), Germany ($16.9B), and Japan ($14.7B).

In 2023, Canada was the world's biggest importer of Aluminium Oxide ($1.63B), Other Isotopes ($1.41B), Aqueous Paints ($637M), Aluminium Cans ($489M), and Newspapers ($296M)

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

Latest Trends

November, 2024

About

Overview In November 2024 Canada exported C$60.5B and imported C$59.5B, resulting in a positive trade balance of C$973M. Between November 2023 and November 2024 the exports of Canada have decreased by C$-1.22B (-1.97%) from C$61.7B to C$60.5B, while imports decreased by C$-4.08B (-6.41%) from C$63.6B to C$59.5B.

Trade In November 2024, the top exports of Canada were Crude Petroleum (C$11.4B), Cars (C$3.55B), Gold (C$3.53B), Refined Petroleum (C$1.58B), and Motor vehicles; parts and accessories (8701... (C$1.35B). In November 2024 the top imports of Canada were Commodities not elsewhere specified (C$4.01B), Cars (C$3.66B), Motor vehicles; parts and accessories (8701... (C$2.48B), Telephones (C$2.01B), and Delivery Trucks (C$1.96B).

Origins In November 2024 the exports of Canada were mainly from Ontario (C$21.8B), Alberta (C$14.2B), Quebec (C$11.2B), British Columbia (C$4.19B), and Saskatchewan (C$4.01B), while imports destinations were mainly Ontario (C$37.9B), Quebec (C$7.75B), British Columbia (C$4.94B), Alberta (C$3.2B), and Manitoba (C$2.24B).

Destinations In November 2024, Canada exported mostly to United States (C$45.3B), United Kingdom (C$2.83B), China (C$2.71B), Japan (C$1.14B), and Mexico (C$681M), and imported mostly from United States (C$31.8B), China (C$6.31B), Mexico (C$3.69B), Germany (C$1.54B), and Japan (C$1.45B).

Growth In November 2024, the decrease in Canada's year-by-year exports was explained primarily by an decrease in exports to United States (C$-2.62B or -5.47%), Japan (C$-176M or -13.4%), and Hong Kong (C$-171M or -49.3%), and product exports decrease in Crude Petroleum (C$-1.86B or -14.1%), Cars (C$-997M or -21.9%), and Petroleum Gas (C$-522M or -34.7%). In November 2024, the decrease in Canada's year-by-year imports was explained primarily by an decrease in imports from China (C$-1.67B or -21%), Mexico (C$-476M or -11.4%), and Kazakhstan (C$-465M or -99.7%), and product imports decrease in Cars (C$-1.01B or -21.7%), Refined Petroleum (C$-826M or -36.6%), and Tractors (C$-387M or -55.4%).

Latest Trade

Time Scale
Flow
Color
Depth
EXPORT GROWTH (November 2023 - November 2024)C$-1.22B(-1.97%)
IMPORT GROWTH (November 2023 - November 2024)C$-4.08B(-6.41%)
MAIN EXPORTER (November 2024)OntarioC$21.8B
MAIN DESTINATION (November 2024)United StatesC$45.3B

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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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Crude Petroleum$107B
Top Destination (2023)United States$410B

In 2023, Canada exported a total of $574B, making it the number 10 exporter in the world. During the last five reported years the exports of Canada have changed by $132B from $443B in 2018 to $574B in 2023.

The most recent exports are led by Crude Petroleum ($107B), Cars ($37.4B), Gold ($31.5B), Petroleum Gas ($15.7B), and Refined Petroleum ($15.1B). The most common destination for the exports of Canada are United States ($410B), China ($31.1B), United Kingdom ($18B), Japan ($13.4B), and Mexico ($8.76B).

Explore Visualizations

Exports (2023)
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Destinations (2023)
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Market Growth

Flow
View
Growth
Fastest Growing Export Markets (2022 - 2023)
United Kingdom$10.6B (+ 144%)
India$2.22B (+ 47.9%)
China$1.21B (+ 4.03%)
Fastest Growing Import Markets (2022 - 2023)
Mexico$2.27B (+ 7.41%)
Japan$2.07B (+ 16.3%)
Germany$932M (+ 5.83%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

Type
Flow
Depth
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Service Trade

Service Trade

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).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)0.9Rank 30 of 132
Economic Complexity (Technology)1.2Rank 11 of 96
Economic Complexity (Research)2.26Rank 3 of 140

Comparison Map

Color

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 (0.16), Quebec (-0.0045), and British Columbia (-0.097).

The principal exporters of Canada were Ontario (C$251B), Alberta (C$189B), and Quebec (C$115B).

The same year,  the principal importers of Canada were Ontario (C$456B), Quebec (C$103B), and British Columbia (C$73.7B).

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Most Specialized Products by RCA Index

Canada has a high level of specialization in Semi chemical Woodpulp (19.2), Oats (17.4), Aircraft Launch Gear (16.5), Other Ores (15.2), and Potassic Fertilizers (14.7). Specialization is measured using RCA, an index that takes the ratio between Canada observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Canada according to the relatedness index, were Scrap Lead (0.29), Nitrogenous Fertilizers (0.29), Aluminium Ore (0.29), Cobalt Oxides and Hydroxides (0.28), and Concentrated 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

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.

Relatedness Space

This network shows the products most related to the production structure of Canada. These are products that tend to be co-exported with the products that Canada exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Canada's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨20th 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.

Explore Rankings

ECI (Trade) Ranking by Country

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