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2022
Flag → Flag
Exports $2.19BRnk 21 / 215
2022
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Top Product $403MWheat
2022
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Exports $7.06BRnk 18 / 221
2022
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Top Product $458MWine
2022
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Economic Complexity (ECI) ECI 0.92Rnk 31 / 133
2022
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Economic Complexity (ECI) ECI 1.29Rnk 17 / 133
2022
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GDP$2.14TCURRENT US$
Rnk 9 / 186
2012-2022
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GDP GROWTH17%CURRENT US$
Rnk 129 / 186
2022
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 GDP$2.01TCURRENT US$
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2012-2022
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GDP GROWTH-3.67%CURRENT US$
Rnk 169 / 186
2022
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GDP PC $54,966CURRENT US$
Rnk 14 / 186
2012-2022
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GDP PC GROWTH4.36%CURRENT US$
Rnk 130 / 186
2022
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GDP PC$34,158CURRENT US$
Rnk 30 / 186
2012-2022
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GDP PC GROWTH-2.55%CURRENT US$
Rnk 148 / 186

About

Canada-Italy Trade: In 2022, Canada exported $2.19B to Italy. The main products that Canada exported to Italy were Wheat ($403M), Packaged Medicaments ($318M), and Soybeans ($233M). Over the past 5 years the exports of Canada to Italy have increased at an annualized rate of 3.64%, from $1.83B in 2017 to $2.19B in 2022.

In 2020, Canada exported services to Italy worth $198M, with Transportation ($76.8M), Travel ($46.2M), and Computer and information services ($33.6M) being the largest in terms of value.

Italy-Canada Trade: In 2022, Italy exported $7.06B to Canada. The main products that Italy exported to Canada were Wine ($458M), Cars ($215M), and Packaged Medicaments ($193M). Over the past 5 years the exports of Italy to Canada have increased at an annualized rate of 8.42%,  from $4.71B in 2017 to $7.06B in 2022.

In 2020, Italy exported services to Canada worth $372M, with Travel ($198M), Other business services ($59.4M), and Transportation ($32.2M) being the largest in terms of value.

Comparison: In 2022,  Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B). That same year, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).

Latest Trends

August, 2024

About

Overview In August 2024, Canada exported C$157M and imported C$1.02B from Italy, resulting in a negative trade balance of C$860M. Between August 2023 and August 2024 the exports of Canada have decreased by C$-42.8M (-21.4%) from C$199M to C$157M, while imports decreased by C$-262M (-20.5%) from C$1.28B to C$1.02B.

Trade In August 2024, the top exports of Canada to Italy were Wheat (C$135M), Packaged Medicaments (C$17.7M), Dried Legumes (C$11.4M), Gas Turbines (C$9.59M), and X-Ray Equipment (C$3.63M). In August 2024 the top imports of Canada from Italy were Other Heating Machinery (C$140M), Cars (C$64.1M), Wine (C$34.6M), Packaged Medicaments (C$33.6M), and Trunks and Cases (C$27.9M).

Origins In August 2024 the exports of Canada were mainly from Quebec (C$66.8M), Ontario (C$44.7M), Alberta (C$21.5M), Saskatchewan (C$10.4M), and British Columbia (C$4.9M), while imports destinations were mainly Ontario (C$495M), Quebec (C$324M), British Columbia (C$95.3M), Alberta (C$46.9M), and Manitoba (C$24.7M).

Growth In August 2024, the decrease in Canada's year-by-year exports to Italy was explained primarily by an decrease in product exports in Soybeans (C$-52.7M or -99.7%), Coal Briquettes (C$-25.5M or -100%), and Transmissions (C$-4.94M or -88.8%). In August 2024, the decrease in Canada's year-by-year imports  from Italy was explained primarily by an decrease in product imports  in Wine (C$-15.9M or -31.5%), Platinum (C$-11.1M or -73.7%), and Lifting Machinery (C$-6.23M or -51.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)C$-42.8M(-21.4%)
IMPORT GROWTH (August 2023 - August 2024)C$-262M(-20.5%)
MAIN EXPORTER (August 2024)QuebecC$66.8M

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 to explore the exports or imports behavior of Canada over time.

To check Italy and Canada trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Italy and Canada Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Canada exported $2.19B to Italy. The main products exported from Canada to Italy were Wheat ($403M), Packaged Medicaments ($318M), and Soybeans ($233M). During the last 5 years the exports of Canada to Italy have increased at an annualized rate of 3.64%, from $1.83B in 2017 to $2.19B in 2022.

In 2017, Italy exported $7.06B to Canada. The main products exported from Italy to Canada were Wine ($458M), Cars ($215M), and Packaged Medicaments ($193M). During the last 5 years the exports of Italy to Canada have increased at an annualized rate of 8.42%, from $4.71B in 2022 to $7.06B in 2017.

Exports from Canada (Flag) to Italy (Flag) (2022)

Exports from Italy (Flag) to Canada (Flag) (2022)

Market Competitiveness

Color
Canada
Top DestinationUnited States$438B
Italy
Top DestinationGermany$78.5B

This map shows whether countries import more from Canada or Italy. Each country is colored based on the difference in imports they receive from Canada and Italy or the difference in the growth in imports.

In 2022, countries that imported more from Canada than Italy included United States ($438B), China ($25.4B), and Japan ($14.3B).

In 2022, countries that imported more from Italy than Canada included Germany ($78.5B), France ($63.8B), and Spain ($32.8B).

Difference in imports from Italy (Flag) and Canada (Flag) (2022)

Comparative Advantage Canada - Italy

Flow
Scale

This chart compares trade between Canada and Italy by product, considering products traded by both, Canada and Italy.

During 2022, Canada had a large net trade with Italy in the exports of Vegetable Products ($712M), Chemical Products ($448M), and Mineral Products ($230M).

During 2017, Italy had a large net trade with Canada in the exports of Machines ($1.97B), Foodstuffs ($997M), and Chemical Products ($597M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Canada Italy+$158MCrude Petroleum
Top Product Potential Italy Canada+$180MCars

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2020, Canada exported services to Italy worth $198M, with Transportation ($76.8M), Travel ($46.2M), and Computer and information services ($33.6M) being the largest in terms of value.

In 2020, Italy exported services to Canada worth $372M, with Travel ($198M), Other business services ($59.4M), and Transportation ($32.2M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Canada (Flag) to Italy (Flag) (2020)

Services Exports from Italy (Flag) to Canada (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Canada and Italy. This means that a dot/product with the flag of Canada indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Canada.

Product Space of Canada (Flag) and Italy (Flag) (2022)

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