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Overview This page contains the latest international trade data for Newfoundland Labrador. In December 2023 Newfoundland Labrador was the number 8 in total exports and the number 9 in total imports in Canada.

Exports In 2023, Canada's Newfoundland Labrador exported C$ 15.9B, making it the 8th largest exporter out of the 13 exporters in Canada. In 2023 the top exports of Newfoundland Labrador were Petroleum oils, oils from bituminous minerals,... (C$ 6.6B), Iron ore, concentrate, not iron pyrites,... (C$ 1.54B), Iron ore, concentrate, not iron pyrites,unagglomerate (C$ 1.26B), Nickel unwrought, not alloyed (C$ 893M), and Frozen Crabs (C$ 615M).

Imports In 2023, Canada's Newfoundland Labrador imported C$ 2.08B, making it the 9th largest importer out of the 13 importers in Canada. In 2023 top imports of Newfoundland Labrador were Light petroleum distillates nes (C$ 779M), Commodities not specified according to kind (C$ 399M), Petroleum spirit for motor vehicles (C$ 222M), Structures and parts of structures, iron... (C$ 156M), and Cargo vessels other than tanker or... (C$ 114M).

Economic Complexity In 2023, the highest complexity exports of Newfoundland Labrador according to the product complexity index (PCI) are Newsprint (0.99), Peat (0.48), Instructional Models (0.38), Surveying Equipment (0.31), Cameras (0.15), Raw Furskins (-0.00017), Electricity (-0.39), Raw Nickel (-0.52), Gravel and Crushed Stone (-0.64), and Dolomite (-0.64). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)United StatesC$ 4.58B

In 2023 the top export destinations of Newfoundland Labrador were United States (C$ 4.58B), Netherlands (C$ 2.21B), United Kingdom (C$ 1.37B), Germany (C$ 1.03B), and China (C$ 775M).

In 2023 the top exports of Newfoundland Labrador were Petroleum oils, oils from bituminous minerals,... (C$ 6.6B), Iron ore, concentrate, not iron pyrites,... (C$ 1.54B), Iron ore, concentrate, not iron pyrites,unagglomerate (C$ 1.26B), Nickel unwrought, not alloyed (C$ 893M), and Frozen Crabs (C$ 615M).

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Exports Dynamics

Fastest Growing Exports Destination (Dec 2022 - Dec 2023)
Germany C$ 175M (1.17k%)
Netherlands C$ 68.1M (48%)
United Kingdom C$ 54.2M (1.01k%)
Rapidly Declining Export Origins (Dec 2022 - Dec 2023)
Spain C$ -250M (-99.2%)
United States C$ -185M (-46.5%)
Italy C$ -61.7M (-95.2%)

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Yearly Imports

Color
Depth
Top Origin (2023)United StatesC$ 822M
Top Import (2023)Light petroleum distillates nesC$ 779M

In 2023 the top import origins of Newfoundland Labrador were United States (C$ 822M), Spain (C$ 356M), United Kingdom (C$ 200M), Germany (C$ 183M), and Turkey (C$ 129M).

In 2023 the top imports of Newfoundland Labrador were Light petroleum distillates nes (C$ 779M), Commodities not specified according to kind (C$ 399M), Petroleum spirit for motor vehicles (C$ 222M), Structures and parts of structures, iron... (C$ 156M), and Cargo vessels other than tanker or... (C$ 114M).

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Imports Dynamics

Fastest Growing Import Origins (Dec 2022 - Dec 2023)
India C$ 63.3k (1.22k%)
Singapore C$ 62.4k (634%)
Austria C$ 29.7k (1.14k%)
Rapidly Declining Import Origins (Dec 2022 - Dec 2023)
Kuwait C$ -74.9M (-50.3%)
United States C$ -9.65M (-26.3%)
Sweden C$ -4.98M (-99.8%)

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Economic Complexity

Economic Complexity of Newfoundland Labrador

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Economic Complexity (2023)-0.89

Newfoundland Labrador ranks 10th out of the 13 provinces in Canada according to ECI.

The Economic Complexity Index, or ECI, is a measure of an economy’s capacity which can be inferred from data connecting locations to the activities that are present in them. For more info about Economic Complexity, visit the Economic Complexity page.

Estimated using exports data.

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Economic Complexity Ranking

Value

The economic complexity of a territory can change year to year. Newfoundland Labrador it is in position 10th considering its ECI in the last year.

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Export Opportunities by Relatedness

The top export opportunities according to the relatedness level, without considering those products were Newfoundland Labrador already has a comparative advantage, are led by Fish oil (0.048), Animal Meal and Pellets (0.04), Fish: dried, salted, smoked or in... (0.04), Gold (0.039), and Raw Aluminium (0.037).

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Most Complex Products by PCI

The highest complexity exports of Newfoundland Labrador according to the product complexity index (PCI) are Newsprint (0.99), Peat (0.48), Instructional Models (0.38), Surveying Equipment (0.31), Cameras (0.15), Raw Furskins (-0.00017), Electricity (-0.39), Raw Nickel (-0.52), Gravel and Crushed Stone (-0.64), and Dolomite (-0.64). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

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Most Specialized Products by RCA Index

The most specialized products according to the RCA index are led by Raw Nickel (95.68), Crustaceans (43.94), Newsprint (41.54), Iron Ore (27.25), and Cobalt (21.79).

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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 Newfoundland Labrador is 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.

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Relatedness Space

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

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Diversification Frontier

Depth
Filter

The Complexity-Relatedness diagram compares the risk and the strategic value of a territory'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. Bubble size corresponds to exports value by year 2020.

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