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Overview In 2021, Canada was the number 9 economy in the world in terms of GDP (current US$), the number 9 in total exports, the number 12 in total imports, the number 23 economy in terms of GDP per capita (current US$) 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.

Latest Trends

November, 2023

Historical Data

Yearly Trade

Flow
Color
Depth
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).

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Exports (2021)
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Destinations (2021)
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Market Growth

Flow
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Fastest Growing Export Markets (2020 - 2021)
United States$90.9B (+ 34.4%)
China$3B (+ 15.4%)
Japan$2.42B (+ 25.7%)
Fastest Growing Import Markets (2020 - 2021)
United States$40.8B (+ 18.7%)
China$9.31B (+ 19.5%)
Japan$1.67B (+ 21%)

Total Export Growth by Market (2020 - 2021)

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 32 of 131
Economic Complexity (Technology)1.2Rank 11 of 96
Economic Complexity (Research)2.14Rank 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 (0.11), Quebec (0.011), and British Columbia (-0.17).

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).

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Most Specialized Products by RCA Index

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.

Most Complex Products by PCI

The highest complexity exports of Canada according to the product complexity index (PCI) are Machinery; for working rubber or plastics or for the manufacture of products... (1.68), Fork-lift and other works trucks; fitted with lifting or handling equipment (1.51), Moulding boxes for metal foundry, moulding patterns, moulds for metals (excluding ingot... (1.46), Nickel; articles thereof n.e.c. in chapter 75 (1.44), and Flat panel display modules, whether or not incorporating touch-sensitive screens (1.11). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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.

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.

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.

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Canada's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨18th 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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ECI (Trade) Ranking by Country

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